JEDDAH: JPMorgan Chase has promoted two bankers to senior roles in Saudi Arabia, the bank said in a statement, after its top banker in the Kingdom left earlier this year to join the central bank.

Rayan Fayez has been named senior country officer for Saudi Arabia, the statement said. He joined JPMorgan from Goldman Sachs GS.N in 2012 as investment banking head and co-chief executive of Saudi Arabia.

Fayez replaces Abdulaziz Al-Helaissi, who left JPMorgan in the first half of 2013 to take a position at the Saudi Arabian Monetary Agency.

His move was part of a wider trend in the kingdom to tap senior executives from leading global financial institutions to run key state entities.

Meanwhile, Bader Alamoudi has been named chief executive of JPMorgan’s Saudi Arabian business, the statement said.