Singapore Gulf Bank names ex-Goldman Sachs banker as CFO

Separately, SGB’s new COO joins from GIC and Sygnum.

Singapore Gulf Bank (SGB) has appointed Ali AlShamma as chief financial officer (CFO) and Elaine Leong as chief operating officer (COO).

The digital bank is backed by Bahrain’s sovereign wealth fund Mumtalakat and privately-held Singapore-based investment firm Whampoa Group. It is set to launch by November 2024.

AlShamma is the former CFO of Goldman Sachs Saudi Arabia and Citigroup Saudi Arabia. He is tasked with steering SGB’s financial strategy.

Leong, meanwhile, joins from GIC and Sygnum, and is in charge of leading SGB’s global operations.

SGB promises to enable customers to easily access and manage digital assets alongside traditional assets in one integrated network.