Islam Abdel Azim Azzam appointed as EGX head with Mohamed Sabry as his deputy

A new face at the helm of the EGX: Prime Minister Moustafa Madbouly has appointed Islam Abdel Azim Azzam (LinkedIn) as chairman of the Egyptian Exchange for a one-year term, according to a statement from the bourse. Azzam succeeds Ahmed El Sheikh (LinkedIn), who has served as chairman since 2023. He brings decades of experience to the role, having most recently served as the vice chairman at the Financial Regulatory Authority (FRA). He is also an Associate Professor of Finance at the American University in Cairo, and has previously headed the university’s Department of Graduate Studies in Finance. He also spent some time at a number of local and international institutions, including London School of Economics.

Second in command: Madbouly also appointed Mohamed Sabry (LinkedIn) as deputy chairman of the EGX succeeding Heba El Serafi (LinkedIn), according to a separate statement. An EGX veteran, Sabry first joined the bourse in 2010 and was its acting head of market surveillance until 2022. Sabry enters the role following a stint as the assistant chairman of capital market affairs at the FRA.