HSBC Saudi CEO, Walid Khoury Departs, Successor Chosen

HSBC’s Saudi Arabian Chief Executive Officer, Walid Khoury, has parted ways with the British banking giant, paving the way for the appointment of new CEO Nabeel Shoaib, who is slated to take over immediately.

HSBC has made a number of moves lately in its personnel department, having lost its Head of Asset Management, Osama Shaker, back in July. In addition, the banking group has made a number of other key executive hires, relegated to its Commercial Banking and Finance sectors.

The appointment of Nabeel Shoaib heralds the start of a new era for the group in Saudi Arabia – Mr. Shoaib has been a mainstay at HSBC since 1985 when he joined affiliate Saudi British Bank. Over the years he has held a number of senior level roles with the group across its Risk Management , operations and Compliance sectors.