Commercial International Bank Egypt (CIB), Egypt’s largest private sector bank, has announced several changes to its Board of Directors, which are pending approval from the Central Bank of Egypt and regulatory authorities.
The Board has chosen Nevine Sabbour as Non-Executive Chair. She is the first woman to chair CIB’s Board and brings extensive experience in M&A, business strategy, banking transformation, financial planning, and management information systems.
Nevine Sabbour joined CIB as a Non-Executive Director in March 2023 and currently serves on the boards of several financial and industrial institutions, including Meris (Moody’s Egypt) and the Holding Company for Metallurgical Industries.
She is also a member of the Board of Trustees of the “We owe it to Egypt” foundation and “Banking for Women in Egypt,” an institution aimed at women’s empowerment and financial inclusion.
Additionally, the Board has reappointed Hisham Ezz Al-Arab as Chief Executive Officer and Board Member. Mr. Ezz Al-Arab succeeds Hussein Abaza, who is ending his term at CIB as previously planned. Amr El-Ganainy will become an executive director of the Board in his capacity as Deputy CEO.
The Board of Directors has also announced the appointments of veteran transformation banker Tony Prestedge as Executive Advisor to the Board of Directors and Islam Zekry, Group Chief Financial Officer, as Executive Director.
These appointments are the result of a thorough process undertaken by the Board of Directors to select a new CEO to lead the bank’s multifaceted business transformation and continue its program to support recognized potential future leaders.
