Saib promotes its deputy to CEO, and Edarat names a new chair.

Saudi Investment Bank (Saib) has promoted from within for its next CEO. Salman Al-Fughom (LinkedIn) until now deputy chief executive, becomes CEO of the Saudi Investment Bank on tomorrow, with the Saudi Central Bank's non-objection in hand, according to a Tadawul filing. He takes over from Faisal Al-Omran (LinkedIn), who is leaving at his own request after a two-decade run at the bank. Al-Fughom’s own career spans more than 20 years in Saudi banking, including an earlier spell at the central bank.

ALSO- Edarat Communication and Information Technology has named a new board chair. The IT firm appointed Salam Zaki Al Khunaizi (LinkedIn) as chairman and Musaed Fahad Al Sudairi as vice chairman at the first meeting of its new three-year board, according to another Tadawul disclosure.