The General Assembly of the Commercial International Bank – Egypt (CIB) approved the decision to appoint Hisham Ezz Al-Arab as a non-executive Chairman of the Bank’s Board of Directors. Ezz Al-Arab will act as a successor to Sherif Sami, who will continue as a non-executive member of the Bank’s Board of Directors.
Veteran banker Hisham Ezz Al-Arab has returned to the CIB as an experienced board member, according to a statement by the bank to the Egyptian Exchange, on Tuesday. The bank stated that its board of directors had already obtained the approval of the Central Bank of Egypt for this decision.
In December 2022, renowned banker Hisham Ezz El Arab was nominated by the CIB Board of Directors to be appointed as a non-executive chairman of the board of directors, after obtaining the approval of Egypt’s Central Bank.
In November 2022, Ezz El Arab quit his post as a consultant to the governor of the Central Bank of Egypt (CBE) to rejoin the Commercial International Bank (CIB) as a board member, a non-executive position.
Ezz El Arab became part of the CBE in August, following the appointment of Acting Governor Hassan Abdullah. That’s almost two years after the famed banker resigned from his position as the CEO of CIB in October 2020.
Ezz Al Arab-led CIB to reach what it is today as a market leader at all levels, from profitability to sustainability.
He previously spent around two years as managing director at Deutsche Bank, seven years as managing director at JPMorgan, and more than three years as assistant vice president at Merrill Lynch.
Hassan Abdullah, the acting governor of the Central Bank of Egypt, had earlier appointed Ezz Al-Arab as his advisor. Ezz Al-Arab served as Chairperson and Managing Director of CIB from 2001 until October 2020.
He holds a Bachelor of Commerce from Cairo University and began his career after graduating from Cairo University in 1977 in several Egyptian banks.
In 1983, he began his work in several international banks in both London and New York.
Ezz Al-Arab served as Managing Director of JPMorgan London and then Managing Director of Deutsche Bank of London before joining CIB as Deputy Managing Director in 1999, and Member of the Board of Directors in 2001.
