RIYADH, 8 August 2007 — The board of directors of Saudi Hollandi Bank (SHB) has appointed Geoffrey Calvert managing director with effect from Sept. 1, according to an announcement released by the bank. Calvert, who earlier worked as managing director of SABB, succeeds Jan Koopman as interim managing director. The board of Saudi Hollandi Bank expressed confidence that Calvert would contribute to the success and development of the bank.
Sulaiman Al-Suhaimi, chairman of SHB, said: “ Calvert has a wealth of banking experience from the international banking environment where he has occupied several senior management positions in the Middle East, Europe and Asia, including managing director of Saudi British Bank.”
Saudi Hollandi Bank, the oldest bank in the Kingdom, was founded in 1926 and is one of the leading banks in Saudi Arabia.
The Dutch Bank ABN Amro owns 40 percent of the stock with the remainder being held by Saudi investors. As of June 30,2007, the bank had SR49.3 billion ($13.1 billion) in assets and more than 1,534 employees, of which 86 percent are Saudi nationals. SHB operates 41 branches and 171 ATMs throughout the Kingdom. Saudi Hollandi Bank is listed on the Saudi Stock Exchange.