Jan 2, 2020

Lubna Olayan named chairman of Saudi British Bank for next three years Olayan, 64, became the first woman to chair a Saudi-listed company Thursday 02 January 2020 Lubna Sulaiman Olayan has been re-appointed as the chairperson of Saudi British Bank (SABB) for the next three years, the lender announced in a bourse statement. The bank has also appointed Saad Abdulmohsen Al-Fadly as vice chairman for the three year period from January 1, 2020 until December 31, 2022. The decision was taken during a meeting by the board of directors on December 26, SABB said. It has also received a no objection notice from the Saudi Arabian Monetary Authority. Olayan, 64, became the first woman to chair a Saudi-listed company when she took on the role in 2018 following the merger between SABB and Alawwal bank. The $5bn deal created the kingdom’s third largest lender with combined assets of SAR268bn ($71bn) and market capitalisaiton of SAR64.6bn ($17.2bn) as of the end of June 2018. It was also the first major banking tie-up in Saudi Arabia for 20 years.