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Report: Saudi Arabia names new central bank head

Ahmed al-Kholifey succeeded Fahad al-Mubarak as governor ofthe Saudi Arabian MonetaryAgency, Bloomberg News reported May 7.

Al-Mubarak had served in the position since 2011, Bloombergnoted, adding that the move is part of King Salman bin Abdulaziz Al Saud's governmentreorganization plans.

Also among the government changes was the of Mohammad Al Tuwaijri, CEOof HSBC HoldingsPlc's Middle East and North Africa operations, to serve as deputyminister of economy and planning.