Saudi National Bank announced on 27 March 2024 that it had appointed Tareq Abdulrahman Al Sadhan as its new chief executive officer, with the appointment taking effect from 1 May 2024. The announcement, made through the Saudi Exchange, confirmed that Saudi Arabia's largest bank by assets had secured the necessary non-objection from the Saudi Central Bank, known as SAMA, in advance of the leadership transition.
Al Sadhan succeeds Talal Al Khereiji, who had been acting chief executive since March 2023, when chief executive Saeed Al Ghamdi became chairman, and who stepped down for personal reasons effective 30 April 2024.
REGULATORY CLEARANCE
The SAMA non-objection, a regulatory requirement for senior executive appointments at Saudi-licensed banks, was obtained ahead of the public announcement.
Al Sadhan takes office on 1 May 2024.
SNB's operations span corporate and retail banking, treasury, capital markets, and a range of financial services. SNB was formed through the 2021 merger between National Commercial Bank and Samba Financial Group.