{"id":643889,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/hisham-ezz-al-arab-to-take-over-from-hussein-abaza-as-cibs-new-ceo\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"hisham-ezz-al-arab-to-take-over-from-hussein-abaza-as-cibs-new-ceo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/hisham-ezz-al-arab-to-take-over-from-hussein-abaza-as-cibs-new-ceo\/","title":{"rendered":"Hisham Ezz Al Arab to take over from Hussein Abaza as CIB\u2019s new CEO"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CIB board shuffle in the works:<\/strong> The Commercial International Bank (CIB) is overhauling its board of directors, introducing several key changes pending regulatory approvals, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1160.pdf\" style=\"\" rel=\"noopener\">EGX disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1160.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s a breakdown of the new board:<\/strong><\/p>\n<ul>\n<li><strong>Hisham Ezz Al Arab (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hisham-ezz-al-arab-4510714b\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) was appointed as the bank\u2019s CEO and board<\/strong><strong> member.<\/strong> Ezz Al Arab is taking over from Hussein Abaza, who served as the lender\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2017\/03\/15\/what-were-tracking-on-15-march-2017\/\" style=\"\" rel=\"noopener\">CEO since 2017<\/a>. Ezz Al Arab has been CIB\u2019s non-executive chairman <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef687b59-5f9e-424f-a77b-2c4e82da9b24\/%253cmark%253ehisham-ezz-el-arab%253c%2Fmark%253e-appointed-cib%25e2%2580%2599s-non-executive-chairman\" style=\"\" rel=\"noopener\">since December 2022<\/a>. <\/li>\n<li><strong>Neveen Sabbour (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cibeg.com\/en\/about-us\/board-of-directors\/independent-director---ms-nevine-sabbour\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) will replace Ezz Al Arab as non-executive chairman<\/strong>, becoming the first woman to chair the lender\u2019s board. Sabbour is currently on the boards of several institutions, including credit rating agency Meris and the Holding Company for Metallurgical Industries. She first joined the lender as a non-executive director in March last year.<\/li>\n<li><strong>Amr El Ganainy (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cibeg.com\/en\/about-us\/executive-management\/deputy-ceo-and-managing-director\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>) is assuming the executive director post on the lender\u2019s<\/strong> <strong>board<\/strong>, in his capacity as deputy CEO \u2014 he was named deputy CEO and managing director <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c8c33d4-ca47-4f94-baab-9a533e536765\/\" style=\"\" rel=\"noopener\">last October<\/a>.<\/li>\n<li><strong>Veteran banker Tony Prestedge (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tony-prestedge-867a7621a\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) is becoming executive advisor<\/strong> to the banks' board of directors.<\/li>\n<li><strong>The lender\u2019s CFO Islam Zekry (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/islam-zekry-6725105b\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) will become executive director<\/strong> to the CIB board of directors.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for Abaza? <\/strong>The lender\u2019s CEO will depart his position for a three-year stint at Banque du Caire as its CEO, he told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid02K73XtiUPUFGp9XFE2V59tN7HLFiykNETn6HxAECPgFZE6gsedNt8KeUwnbwRR1tFl?rdid=oRnG9rcB44J0rsSF\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Abaza will take over from Tarek Fayed who has been the state-owned bank\u2019s chairman and CEO since January 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The changes are pending regulatory approvals<\/p>\n","protected":false},"author":1,"featured_media":643890,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7231],"tags":[726,240,72,2307,2506,206],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-moves","tag-banque-du-caire","tag-cib","tag-enterpriseam","tag-hisham-ezz-al-arab","tag-hussein-abaza","tag-moves","wpautop","entry"],"acf":{"mongo_id":"bce198ad-b5e0-4ce6-8630-bfba62fca05b","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1233.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ezz Al Arab to take over from Hussein Abaza as CIB\u2019s new CEO","related_issue":[643872],"teaser":"The changes are pending regulatory approvals","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.a37add22-1270-4d96-8981-66d1b98c8611.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Long-time CIB Chairman and Managing Director Hisham Ezz Al Arab resigned on Friday after the Central Bank of Egypt (CBE) said an audit found \u201cregulatory, compliance and governance\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/254.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570211,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/23\/banque-misrs-el-etreby-named-feb-chairman\/","url_meta":{"origin":643889,"position":1},"title":"Banque Misr\u2019s El Etreby named FEB chairman","author":"enterpriseam admin","date":"23 March 2020","format":false,"excerpt":"MOVES- Banque Misr\u2019s El Etreby named FEB chairman: Banque Misr Chairman MohamedEl Etreby has been selected to succeed CIB\u2019s Hisham Ezz El Arab as the chair of the Federation of Egyptian Banks for a three-year term, according to Masrawy. National Bank of Egypt Chairman Hisham Okasha will serve as El\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575748,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/26\/institutional-investors-research-houses-hold-the-line-on-cib\/","url_meta":{"origin":643889,"position":2},"title":"Institutional investors, research houses hold the line on CIB","author":"enterpriseam admin","date":"26 October 2020","format":false,"excerpt":"Institutional investors, research houses hold the line on CIB amid selling pressure from retail investors following Ezz Al Arab\u2019s resignation. Four research houses have affirmed their ratings on CIB after Hisham Ezz Al Arab stepped down on Friday as chairman and managing director following a probe by the Central Bank\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/266.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577490,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/hisham-ezz-al-arab-resigns-as-cbe-advisor-following-cib-return\/","url_meta":{"origin":643889,"position":3},"title":"Hisham Ezz Al Arab resigns as CBE advisor following CIB return","author":"enterpriseam admin","date":"24 November 2022","format":false,"excerpt":"Our friend Hisham Ezz Al Arab has resigned from his post as an advisor to CBE Governor Hassan Abdalla in the wake of his return to CIB\u2019s board as non-executive director, he told Al Arabiya. Ezz Al Arab said he plans to help CIB implement the bank\u2019s plans in the\u2026","rel":"","context":"In &quot;Moves&quot;","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/387.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577451,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/hisham-ezz-al-arab-is-back-on-the-board-at-cib\/","url_meta":{"origin":643889,"position":4},"title":"Hisham Ezz Al Arab is back on the board at CIB","author":"enterpriseam admin","date":"23 November 2022","format":false,"excerpt":"Our friend Hisham Ezz Al Arab is back home: CIB\u2019s former chairman and managing director Hisham Ezz Al Arab (LinkedIn) is back on the bank\u2019s board of directors after being appointed a non-executive director with the Central Bank of Egypt\u2019s blessing, the bank said in a statement yesterday. Ezz Al\u2026","rel":"","context":"In &quot;Moves&quot;","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/357.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583858,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/21\/hisham-ezz-al-arab-reappointed-cib-chairman-for-new-3-year-term\/","url_meta":{"origin":643889,"position":5},"title":"Hisham Ezz Al Arab reappointed CIB chairman for new 3-year term","author":"enterpriseam admin","date":"21 March 2023","format":false,"excerpt":"Ezz Al Arab\u2019s term will end in March 2026","rel":"","context":"In &quot;Moves&quot;","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Ezz-El-Arab-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=643889"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643889\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/643890"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643889"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643889"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}