(MENAFN- Daily News Egypt) The Commercial International bank – Egypt (CIB) has appointed Hisham Ezz Al-Arab as CEO and Managing Director, succeeding Hussein Abaza, who has completed his tenure. The board also nominated Nevine Sabour as Non-Executive Chair, marking the first time a woman held this position at the bank.
Amr El-Ganayni
Additionally, Amr El-Ganayni has been nominated as Executive Board Member and Deputy CEO, with Tony Burstedge appointed as Executive Advisor to the board, and Islam Zekri as Executive Board Member, currently serving as the Group CFO and a member of CIB Kenya's board.
These decisions are subject to approval by the Central Bank of Egypt.
The nominations followed a comprehensive search and evaluation process aimed at selecting a new CEO to lead the bank through its upcoming phase, focusing on implementing a digital transformation strategy across all aspects of its operations, while continuing to prepare and support future leadership.
Hisham Ezz Al-Arab
Hisham Ezz Al-Arab had previously left CIB in October 2020, only to return in early 2023 as Chairman. Given his extensive institutional expertise and leadership at the bank, coupled with his knowledge of global financial markets, the board unanimously chose him for the CEO position for a three-year term.
During his previous tenure as CEO and Managing Director, Ezz Al-Arab played a pivotal role in the bank's strategic direction, transforming CIB from a corporate lender into Egypt's leading private-sector bank and elevating its global brand amidst numerous challenges. With over 40 years of experience in banking across Europe, the Middle East, and Africa, Ezz Al-Arab also provides growth, resource mobilization, and financial risk management consulting, while actively supporting fintech startups with financial and strategic advice.
Under his leadership from 2002 to 2020, Ezz Al-Arab solidified CIB's position as Egypt's largest private-sector bank, growing its market capitalization from EGP 1bn to EGP 100bn. This achievement led to CIB becoming a key component of the Egyptian Stock Exchange's main index and being listed on both the New York and London stock exchanges, attracting international investors and setting benchmarks for the banking sector in emerging markets. He also serves as Chairman of the CIB Foundation since its establishment in 2010.
Nevine Sabour brings extensive experience in mergers and acquisitions, business strategy, banking transformation, financial planning, and information systems management. She joined the CIB board as a non-executive member in March 2023 and currently holds positions on the boards of several financial and industrial institutions.
Islam Zekri
Islam Zekri, currently heading the finance and strategy sectors, has a proven track record in improving financial performance, driving growth, enhancing innovation, and creating value for business partners both internally and externally. Zekri was previously appointed by CIB as Egypt's first Chief Data Officer and is a key member of the Smart Africa initiative, which spans half the continent to accelerate sustainable socio-economic development. He is also actively involved in the EU-AU Digital Economy Task Force and serves on the WEF Digital Transformation Committee.
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