Riyadh - Mubasher: Al Rajhi Banking and Investment Corporation (Al Rajhi Bank) has announced the official appointment of Walid bin Abdullah Al-Moqbel as its new CEO.

The appointment, which will come into effect starting from the beginning of January 2020, follows the approval of the Saudi Arabian Monetary Authority (SAMA).

The bank’s board agreed to name Al-Moqbel as CEO during the meeting held on 20 October 2019, according to a statement to the Saudi Stock Exchange (Tadawul).

It is worth noting that Al-Moqbel recently served as the bank’s Deputy CEO, and previously worked as Al Rajhi Bank Chief Operating Officer (COO), and Chief Financial Officer (CFO).

Al-Moqbel will replace Stefano Bertamini, whose contract will expire on 31 December.