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The Commercial International Bank – Egypt (CIB) has appointed Hisham Ezz Al-Arab as CEO and Managing Director, succeeding Hussein Abaza, whose term has concluded. In a historic move, the board has also nominated Neveen Sabbour as Non-Executive Chair, making her the first woman to ever hold this position at CIB. Additionally, Amr El-Ganainy has been nominated as Executive Board Member and Deputy CEO, while Tony Prestedge will join as Executive Advisor to the board, and Islam Zekri as Executive Board Member, currently serving as the Group CFO and a board member of CIB Kenya.
These appointments are subject to approval from the Central Bank of Egypt. The leadership transition follows a thorough search and evaluation process aimed at selecting a new CEO to guide the bank through its next phase, with a particular emphasis on advancing its digital transformation strategy. The board also intends to continue cultivating and preparing future leadership talent.
Hisham Ezz Al-Arab, who had previously departed from CIB in October 2020, returned in early 2023 as Chairperson. Given his deep institutional knowledge, leadership experience, and global financial market expertise, the board unanimously selected him for a three-year term as CEO. Ezz Al-Arab’s previous tenure as CEO and Managing Director saw him steer CIB from a corporate-focused lender to Egypt’s leading private-sector bank, significantly enhancing its global reputation despite numerous challenges. With over 40 years of banking experience across Europe, the Middle East, and Africa, Ezz Al-Arab also offers consulting services in growth, resource mobilization, and financial risk management while advising fintech startups on financial and strategic matters.
From 2002 to 2020, under Ezz Al-Arab’s leadership, CIB grew into Egypt’s largest private-sector bank, increasing its market capitalization from EGP 1 billion to EGP 100 billion. His achievements placed CIB as a key player on the Egyptian Stock Exchange’s main index and led to listings on both the New York and London stock exchanges, attracting a broad base of international investors and setting industry benchmarks for emerging markets. He has also chaired the CIB Foundation since its inception in 2010.
Neveen Sabbour, the newly nominated Non-Executive Chair, brings extensive expertise in mergers and acquisitions, business strategy, banking transformation, financial planning, and information systems management. She joined the CIB board as a non-executive member in March 2023 and holds several board positions across financial and industrial sectors.
Islam Zekri, currently leading the finance and strategy sectors, has demonstrated a strong ability to improve financial performance, drive innovation, and deliver value to business partners. As Egypt’s first Chief Data Officer, he played a significant role in accelerating sustainable development through initiatives such as Smart Africa and the EU-AU Digital Economy Task Force. Zekri also serves on the World Economic Forum’s Digital Transformation Committee, helping shape the future of digital finance.
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