- RIYADH: Richard Groves, managing director of SABB (The Saudi British Bank), is moving to HSBC Greece as its CEO toward May-end, having spent over six years in the region.
- He joined SABB in October 2007 as executive director and chief operating officer, and was appointed MD in March 2009.
Groves has been with the HSBC Group since April 1981. Before moving to SABB, he was CEO of HSBC Bank Middle East Ltd., Oman, from June 2004 to October 2007, and regional head Northern India for HSBC India from January 2001 to June 2004. He has also worked in Malaysia, Hong Kong, Philippines, Australia, Indonesia and the UK in various key roles.
Khaled S. Olayan, chairman, SABB said: "We thank Richard Groves for leading the bank during these challenging economic times and for the very positive leadership he has brought to SABB during his time in Saudi Arabia. We wish him and his family every success in his new important role in Greece."
Groves will be succeeded as MD of SABB by David Dew effective May 26, who is presently the deputy chief executive of HSBC Amanah based in Dubai. Earlier, David served as deputy MD and chief operating officer of SABB from 2001 to 2004. He is currently a member of the SABB board since December 2009.