Bank of America Taps StanChart Banker to Run Saudi Franchise
- Al-Salloom replaces Al Murshed who joined Saudi government
- International banks are expanding as Saudi economy opens up
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Bank of America Corp. has hired Standard Chartered Plc’s Yazaid Al-Salloom to run its business in Saudi Arabia, according to people familiar with the matter.
Al-Salloom is replacing Motashar Al Murshed who joined a Saudi government body in recent months after nearly 12 years with Bank of America, the people said, asking not to be named because the information is not public. Besides Saudi Arabia, Al-Salloom will also cover Kuwait and Bahrain for the U.S. bank.