The chief executive of NCB Capital, the investment arm of Saudi Arabia's biggest bank by assets, will leave the lender for personal reasons.
Confirming a Reuters report earlier yesterday, NCB Capital said Ahmed Farid would be replaced by Jawdat Al Halabi, head of NCB Capital's wealth and asset management.
NCB Capital said the resignation of the veteran banker was not linked to a co-operation with Goldman Sachs that did not work out as planned.