HSBC Holdings Plc named Robin Jones interim chief executive officer in the Middle East and North Africa after Saudi Arabia appointed Mohammad Al Tuwaijri as the kingdom’s deputy minister of economy and planning.
Jones, previously the bank’s deputy CEO in the region, will take over with immediate effect and Tuwaijri’s replacement will be announced “in due course,” HSBC spokesman Paul Harris said by phone on Sunday.
The appointment of Tuwaijri, who had been CEO since October 2013, was part of a government reorganization. Saudi Arabia also replaced its central bank governor and long-time oil minister as part of sweeping economic changes led by Deputy Crown Prince Mohammed bin Salman to reduce the nation’s reliance on hydrocarbons.
Tuwaijri, a former Saudi air force pilot, replaced Simon Cooper after he became the head of HSBC’s commercial banking unit in London. Tuwaijri rejoined HSBC in 2010 as regional head of global banking and markets after heading JPMorgan Chase & Co.’s Saudi operations.