RIYADH: HSBC Saudi Arabia has appointed Faris AlGhannam as the bank’s new CEO as the lender embarks on a new phase of growth in the Kingdom. Taking up his new role on Oct. 1 upon regulatory approval, AlGhannam is currently the bank’s deputy CEO, according to a statement. He succeeds Rajiv Shukla, who was appointed senior managing director and advisor to the regional CEO after leading HSBC Saudi Arabia as its chief since April 2019.