Digital bank SGB appoints former Goldman Sachs and Sygnum executives as CFO and COO

Digital bank Singapore Gulf Bank (SGB) today announced the appointment of Ali AlShamma as Chief Financial Officer and Elaine Leong as Chief Operating Officer. These strategic appointments reinforce SGB's mission to enable frictionless interaction between digital and traditional finance. The bank will be launched in November 2024. Ali AlShamma, who previously served as Chief Financial Officer at Goldman Sachs Saudi Arabia and Citi Saudi Arabia, will lead SGB's financial strategy and build market bridges between Asia and the Middle East and North Africa (MENA) region. As Chief Operating Officer, Elaine Leong will bring her expertise at GIC and Sygnum to SGB's global operations, providing hyper-connected solutions for a digital-first ecosystem. According to reports, SGB has received support from Bahrain's sovereign wealth fund Mumtalakat and Singapore's private investment institution Whampoa Group. It is also Bahrain's first fully licensed digital bank, serving global investors, innovators and institutions. SGB is oriented towards the digital economy, promoting seamless integration of digital finance and traditional finance, and achieving financial connectivity between Asia and the Middle East and North Africa.