Singapore Gulf Bank (SGB), the digital bank backed by Bahrain’s sovereign wealth fund Mumtalakat and privately-held Singapore-based investment firm Whampoa Group, announced two leadership appointments.

SGB has appointed Ali AlShamma as Chief Financial Officer (CFO) and Elaine Leong as Chief Operating Officer (COO). The bank is set to launch by November 2024.

Ali AlShamma, with his experience as CFO at both Goldman Sachs Saudi Arabia and Citigroup Saudi Arabia, will steer SGB's financial strategy and bridge the markets between Asia and the Middle East and North Africa (MENA) region. 

As COO, Elaine Leong brings her expertise from GIC and Sygnum to lead SGB's global operations, enabling a hyper-connected solution that serves a digital-first ecosystem.

“Ali and Elaine join us on our journey to transform how global users access banking services. Together, we will build a financial universe accessible to all,” said Edmund Lee, Founding Chairman of the Board of SGB.