HSBC Holding Plc appointed Majed Najm as chief executive of its Saudi operations, tapping its local affiliate to fill the top position, two people with knowledge of the matter said. Najm joined Europe s biggest lender from Saudi British Bank, where he was general manager of retail banking and wealth management, the people said, declining to be identified because the information isn't public. Najm replaced Walid Khoury, who left the lender in September 2014.

Nabeel Shoaib, HSBCs deputy chief executive in Saudi Arabia, was acting CEO in the interim.