RIYADH: Saudi Hollandi Bank’s Managing Director Geoffrey Calvert has resigned for personal reasons, the bank announced yesterday. On accepting his resignation at the board of directors meeting held yesterday in Riyadh, it was decided to appoint Dr. Bernd Van Linder, general manager of the treasury, to be the acting managing director of the bank succeeding Calvert.
Mubarak Abdullah Al-Khafrah, chairman of the board of directors, thanked Calvert for his contributions to the development of the bank during his time as managing director. He wished the new acting manager great success. Linder joined the Saudi Hollandi Bank in 2006. He has 12 years banking experience in ABN Amro in different positions.
Saudi Hollandi Bank was the first bank in the Kingdom, founded in 1926. The bank’s paid-up capital amounted to SR2.64 billion on Dec. 31, 2008. The bank employs 1,721 staff with a Saudization ratio of over 86 percent and operates 43 branches, eight Ladies’ Sections, 22 Preferred Banking Centers and 201 ATMs providing banking services throughout the Kingdom.