Banque Saudi Fransi’s Fayez resigns to join NEOM as deputy CEO

RIYADH: Banque Saudi Fransi’s CEO, Rayan Fayez, has resigned to join NEOM as a vice president for CEO’s Nadhmi Al-Nasr.

The bank said earlier today that he left due to his appointment in a new position at a semi-governmental body, according to a bourse filing.

Later in the day, NEOM announced the appointment of Fayez starting from June 1.

Fayez, whose resignation was approved by the bank’s board of directors on March 9, will continue as a member of the board effective May 31, when he will have stood down from his CEO role.

NEOM is growing rapidly and development is happening very fast, as we work around the clock to deliver on all projects, especially after the launches of THE LINE, OXAGON and recently TROJENA. This requires sourcing more expert talent at all levels, including for the top management team, where all will collaborate to achieve NEOM’s vision, and to contribute to creating a better future for our coming generations

Nadhmi Al-Nasr, CEO of NEOM

“Any further developments related to the appointment of a new or acting CEO of the bank will be announced in due course,” the bank said.

Prior to joining BSF, Fayez has previously held the role of CEO of Savola Group.

He sits on the boards of King Salman Park Foundation, Sports Boulevard Foundation and Alula Development Company among other boards and committees he serves.

Fayez graduated from Massachusetts Institute of Technology with B.Sc. in Mechanical Engineering and has an extensive experience in finance and business