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Financials

MOVES-Saudi Hollandi Bank appoints Nikolajsen as MD from Jan. 1, 2017

DUBAI, Nov 24 (Reuters) - Saudi Hollandi Bank said on Thursday that it had appointed Soren Nikolajsen as its managing director, starting Jan. 1, 2017.

He takes over from Bernd van Linder, who the bank said in October will leave the role on Dec. 31, when his contract expired.

Nikolajsen, who for the last eight years was with the Royal Bank of Scotland (RBS) based in London and Hong Kong, has been on Saudi Hollandi’s board since 2014, the statement said.

RBS holds a 40 percent stake in the bank, which said separately on Thursday that it was changing its name to Alawwal Bank as part of a new corporate identity. (Reporting by Tom Arnold; Editing by David French)

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