The Saudi Investment Bank (SAIB) has appointed Salman Al-Fughom as Chief Executive Officer, effective 1 October 2026, following approval from the Saudi Central Bank (SAMA), Argaam reported on 28 September 2026. He succeeds Faisal Al-Omran, who resigned at his own request with effect from 28 September 2026. The bank disclosed the changes in a statement filed on the Saudi Exchange (Tadawul).
The appointment is an internal succession. Al-Fughom steps up from the role of Deputy Chief Executive Officer, while Al-Omran leaves after leading the bank since 6 February 2019, a tenure of more than seven and a half years.
Al-Fughom brings more than 20 years of banking and leadership experience in the Kingdom. According to Argaam, his career includes a period at SAMA and a series of senior roles at SAIB covering investments, treasury, liquidity and financing, capital management and balance sheet management.
The leadership change follows a significant capital decision. On 2 September 2026, SAIB agreed to sell its entire 50 percent stake in American Express Saudi Arabia to American Express Middle East for SAR 1.43 billion, plus deferred consideration, with an expected gain of about SAR 792 million based on the investment's book value at 30 November 2025. The bank said the proceeds would strengthen its financial position in line with its strategic direction. A chief executive whose background lies in treasury, capital and balance sheet management now takes charge as the bank decides how to deploy that capital [inferred].
