Leadership Transition at Riyad Bank: CEO Tareq AlSadhan Resigns, Nader AlKoraya Appointed as Successor

Riyad Bank made a significant announcement on Wednesday, confirming the acceptance of the resignation of Mr. Tareq Abdulrahman AlSadhan from his role as the Chief Executive Officer (CEO) of the bank. Mr. AlSadhan has chosen to pursue new opportunities in his professional career.

The Board of Directors and the entire staff express their heartfelt gratitude to Mr. Tareq AlSadhan for his dedicated role and outstanding contributions to enhancing the bank’s performance during his tenure. They extend their best wishes to him for continued success in his future endeavors.

In response to the vacancy, the Board has resolved to appoint Mr. Nader Sami AlKoraya as the new CEO of the bank, effective from February 1, 2024G, corresponding to 20 Rajab 1445H. This appointment is subject to approval from the Saudi Central Bank.

Mr. AlKoraya, equipped with a Master’s degree in Business from the University of California, brings a wealth of experience to his new role. Having participated in various executive and leadership programs, including the Leadership Program at Harvard Business School, he boasts over 30 years of banking experience. His extensive career includes holding key leadership positions, with his most recent role being Chief of Treasury and Investment at Riyad Bank. The bank looks forward to his leadership and anticipates continued growth under his guidance.