Singapore Gulf Bank (SGB), an upcoming digital bank, has appointed Ali AlShamma as Chief Financial Officer and Elaine Leong as Chief Operating Officer.

AlShamma brings extensive experience from his roles as CFO at Goldman Sachs Saudi Arabia and Citigroup Saudi Arabia, while Leong joins SGB from Sygnum and GIC.

These appointments come as SGB prepares to launch in November 2024.

Backed by Bahrain’s Mumtalakat and Singapore-based Whampoa Group, SGB plans to connect traditional and digital finance, allowing users to manage both digital and traditional assets in a unified platform.

The bank is focused on connecting markets in Asia and the Middle East and North Africa (MENA) region.

SGB claims to be the first fully licensed digital bank in Bahrain, serving global investors, innovators, and institutions.

Edmund Lee, Founding Chairman of the Board of SGB, said,

“We are pleased to welcome Ali and Elaine as they join us on our journey to transform how global users access banking services.

Together, we will build a financial universe accessible to all.”

SGB is backed by Bahrain’s sovereign wealth fund, Mumtalakat, which announced its investment in the bank in March 2024, and Singapore-based investment firm Whampoa Group.

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