Gulf International Bank Appoints Khaled Abbas CEO for Saudi Arabia and Sara Abdulhadi CEO for Bahrain

Gulf International Bank has appointed Khaled Abbas as Chief Executive Officer for its Saudi Arabian operations and Sara Abdulhadi as Chief Executive Officer for its Bahrain franchise, both effective 3 March 2024. The appointments give the Manama-headquartered bank dedicated chief executives in its two principal markets, roles until now both held by the Group CEO.

Both executives join the new roles from within GIB's own senior management ranks. Abbas joined the bank in 2018, initially serving as Country Head for the UAE before moving into the role of Group Wholesale Banking Head. Abdulhadi joined GIB in 2019 as Group Chief Investment and Treasury Officer, overseeing GIB's treasury and investment activities across Saudi Arabia, Bahrain and the UAE.

RESPONSIBILITIES TRANSITION FROM GROUP CEO

Until the appointments took effect, direct responsibility for the Saudi and Bahraini operations had rested with Abdulaziz Al-Helaissi in his capacity as Group CEO. The decision to install country-level chiefs in each of those markets gives each business dedicated executive leadership, while Al-Helaissi continues his group-wide leadership delivering GIB's strategy and overseeing its expansion.

Al-Helaissi retains overall responsibility for GIB's direction and performance.

BACKGROUND AND GROUP CEO COMMENT

GIB, which is majority-owned by Saudi Arabia's Public Investment Fund, operates across the Gulf region and maintains an international presence in London and New York. Announcing the appointments at the end of February, Group CEO Abdulaziz Al-Helaissi said they would "further strengthen and diversify our leadership structure as we accelerate our growth".