CIB Egypt names chairman Hisham Ezz Al-Arab as CEO, Neveen Sabbour becomes first female chair

Commercial International Bank (CIB) Egypt named its non-executive chairman, Hisham Ezz Al-Arab, as chief executive officer and managing director for a three-year term on 16 September 2024, succeeding Hussein Abaza, who completed his tenure. The changes were subject to the approval of the Central Bank of Egypt.

In the same announcement, CIB appointed board member Neveen Sabbour as non-executive chair. She is the first woman to hold the position at the bank, which is Egypt's largest private-sector bank.

RETURN TO THE EXECUTIVE ROLE

Ezz Al-Arab has more than 40 years of banking experience and previously led CIB as chief executive for almost two decades, leaving the bank in October 2020. He rejoined the CIB board in November 2022 and later became non-executive chairman. Under his earlier leadership, the bank grew from a wholesale lender into Egypt's largest private-sector bank.

CIB said its board had unanimously selected him after a comprehensive search and evaluation process, citing his institutional expertise and knowledge of global financial markets. His earlier recognitions include Euromoney's Outstanding Contribution to Financial Services award in 2016 and EMEA Finance's Best CEO in Egypt and Africa in 2014.

Sabbour joined the CIB board as a non-executive member in March 2023. Her experience spans mergers and acquisitions, business strategy, banking transformation, financial planning and information systems management, and she holds positions on the boards of several financial and industrial institutions.

OTHER APPOINTMENTS

The board also appointed Amr El-Ganainy as executive board member and deputy chief executive, and Islam Zekri, already the group chief financial officer, as executive board member. Tony Prestedge was named executive adviser to the board.