HSBC Saudi Arabia’s managing director said to have resigned

Abdullah Al Hamed, managing director and head of asset management at HSBC Saudi Arabia Ltd. has stepped down from his position, sources close to the matter told Argaam.

Al Hamed is the third managing director and head of asset management to leave the investment bank over the last three years.

He assumed his position in October 2016, having earlier served as the head of brokerage and business development.

Al Hamed joined HSBC Saudi Arabia, which has over SAR 11 billion worth of local assets under management, in 2006.