Board shakeup at NBE and Banque Misr: The National Bank of Egypt (NBE) and Banque Misr are welcoming new boards following directives from Prime Minister Moustafa Madbouly published in the Official Gazette. The new boards were appointed for three-year terms.

At the top: Banque Misr CEO Mohamed El Etreby (bio) is becoming the CEO of the National Bank of Egypt, while current NBE president Hisham Okasha is taking El Etreby’s place at Banque Misr, according to the decision. The news confirms what banking sources previously told Enterprise about El Etreby and Okasha swapping positions.

At NBE: Former Banque Misr chairman Mohamed Barakat has been appointed non-executive chairman of NBE and former EBRD Vice President and CFO Soha El Turky will join the NBE as vice president (LinkedIn).

At Banque Misr: Essam El Din El Wakeel was tapped as Banque Misr’s non-executive chairman and former tourism minister and CIB CEO for retail banking Ahmed Issa will join the bank as executive board member and deputy CEO.

EBRD APPOINTS NEW SEMED HEAD-

EBRD taps new SEMED director: The European Bank for Reconstruction and Development (EBRD) has appointed Mark Davis (LinkedIn) as its managing director for the Southern and Eastern Mediterranean (SEMED) region, succeeding Heike Harmgart, who has been appointed EBRD managing director for Sub-Saharan Africa. Davis has been with the EBRD since 2013, first joining as senior advisor to the VP of banking before moving up the ranks to regional director for Romania and Bulgaria and then regional director for central Europe. He starts his term on 1 October.

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