The Board is responsible for providing leadership for the institution. It ensures that the right strategy and controls are in place in order to deliver value to shareholders, employees and the community
One of our key strengths is our prominent Board of Directors, which is the ultimate decision-making body of the Bank. The Board is responsible for providing leadership for the institution. It ensures that the right strategy and controls are in place in order to deliver value to shareholders, employees and the community. The Board is composed of eight members; one executive and seven non-executive members with a diverse knowledge base and a balanced skill set that gives CIB a distinct competitive edge. The Board primarily focuses on long-term financial returns and the best interest of all CIB’s stakeholders: customers, shareholders and employees of the Bank, as well as the communities in which the Bank operates. Moreover, the Board’s role is to set the Bank’s values, strategy and key policies, along with pursuing and maintaining its long-term success. Such role is accomplished through providing entrepreneurial leadership, sound strategies and risk management oversight to ensure that risks are assessed and properly managed. The Directors meet at least six times per year for discussions on matters that are important to shareholders.
Mr. Hisham Ezz Al-Arab
Chairman and Managing Director
Mr. Hisham Ezz Al-Arab has led CIB since 2002 as Chairman and Managing Director. Under his leadership, CIB expanded its leading position, grew its market capitalization from EGP 1 billion to 78.5 billion, and developed from a wholesale lender into the full-fledged financial institution it is today. His vision transcended financial performance to include the adoption of best practices in corporate governance, risk management, and building a modern banking culture. With these efforts, CIB’s stock is now viewed by the international investment community as a proxy stock for Egypt and the benchmark for its banking industry.
As Managing Director, Mr. Ezz Al-Arab along with the excellent and competent CIB Chief Executives and Management Team bring decades of experience and thought leadership that guide CIB’s direction in addition to oversee the day-to-day tasks of managing the Bank.
While directing this effort, Mr. Ezz AL- Arab is personally responsible for ensuring adequate and effective governance of the Bank through managing the Risk, compliance and legal departments.
In June 2016, Mr. Ezz Al-Arab received the Euromoney’s Award for Excellence for his “Outstanding Contribution to Financial Services in the Middle East”. In January 2015, he was awarded EMEA Finance African Banking Award “Best CEO in Egypt and Africa Region” for the year 2014 in recognition of the distinguished success of CIB in the banking sector under his leadership.
Mr. Ezz Al-Arab is the Chairman of the Board of Trustees of the CIB Foundation. He has also been a Director at MasterCard Middle East and Africa’s Regional Advisory Board since June 2007, in addition to being a principal member of the American Chamber of Commerce. For his distinguished work, he was elected as a member of the Board of Trustees for the American University in Cairo (AUC) in November 2012. In March 2013, Mr. Ezz Al-Arab was also elected as Chairman of the Federation of Egyptian Banks. In February 2014, he became a member of the Institute of International Finance Emerging Markets Advisory Council – EMAC.
Prior to joining CIB, Mr. Ezz Al-Arab led a reputable banking career as Managing Director of international investment banks in London (Deutsche Bank, JP Morgan and Merrill Lynch), Bahrain, New York, and Cairo.
Dr. Nadia Makram Ebeid
Non Executive Board Member
Dr. Nadia Makram Ebeid is the Executive Director of the Centre for Environment and Development for the Arab Region and Europe (CEDARE), an international diplomatic position which she has held since January 2004. For a period of five years beginning in 1997, Dr. Ebeid served as Egypt’s first Minister of Environment, the first woman to assume this position in the Arab World. Early in her career, Dr. Ebeid held several managerial posts with the United Nations Development Program (UNDP), the United Nations Food and Agriculture Organization’s Regional Office for the Near East, and the Council for Environment and Development Research. In recognition of her role in environmental policy and advocacy, Dr. Ebeid has been awarded numerous awards and distinctions from local and international NGOs, leading institutions and associations.
Dr. Medhat Hassanein
Non Executive Board Member
Professor Medhat Hassanein is a PhD, DUP (Distinguished University Professor) and Professor of Finance and Banking with the Management Department of the School of Business, at the American University in Cairo, Former Minister of Finance, Egypt (1999-2004). Professor Hassanein obtained his BA in Economics from Cairo University (with Honors) and holds an MBA from New York University (with Distinction) and a PhD, Wharton School, University of Pennsylvania, USA.
Dr. Hassanein was the senior economist of the Projects Department of the Arab Fund for Economic and Social Development in Kuwait; a regional development fund operations according to the rules of the World Bank and services all developing Arab countries. During his term with the Fund he participated in the financing of infrastructural, agro-industrial, industrial and agricultural projects. Thereafter, he was promoted to Director of the Fund’s Technical Assistance Department.
Few years later, Dr. Hassanein joined the Arab Investment Bank in Egypt as the Director of the Investment Sector in charge of projects finance, assets management and private equity transactions of the bank. After his service with the Arab Investment Bank, was offered to be the president of the Egyptian Gulf Bank in Egypt (commercial bank).
Professor Hassanein is a senior policy analyst with long experience in institutional building, macro-policy analysis, financial economics, corporate finance, international financial management. He has previously served as advisor to government, high-level advisory bodies and the donor community.
During his term as Minister of Finance, he has developed and instituted the second-generation program of the fiscal public policy reforms of the Government of Egypt. These included, inter-alia, tax, customs reforms, reviewing the procurement system in government, revising the pensions system (pay-as-you-go versus fully-funded systems) together with the investment policy of social insurance funds, introducing public expenditure reviews and performance-based budgeting, building and designing policies for the formalization of extra-legal entities, securing international and local funding packages for the appraisal and implementation of national projects, developing a program for the corporatization of public economic authorities, setting a program for the management of government cash flow, and effecting the public debt-management function through introducing Egypt’s debut Eurobond issue in international financial markets, in addition to the implementation of the primary dealers system and national debt equity swaps.
Authored numerous articles and government reports on topical issues in economics, fiscal and monetary policy, finance and banking, macroeconomic reforms, privatization, capital markets and the extra-legal economy in Egypt.
Professor Hassanein was a member of the High Level Commission on the Legal Empowerment of the Poor, a UN organ. He was selected among commissioners to be the chairman of Group 4 (one among five groups) which is entrusted with the study of Entrepreneurship: Expanding Opportunities for Legally Establishing Business and Fostering Innovative Financial Instruments and Institutions for the Transition from informal to Formal Business.
Professor Hassanein holds membership in many local and international professional associations. He has served as Chairman and Board Member of banks (investment, commercial and development), public holding companies and private corporations.
Dr. Medhat Hassanein is CIB Non-executive Board Member and Audit Committee Member since July 2009 and Chaired the Audit Committee in January 2014. He is also a member of the Sustainability Advisory Board and the GCC.
Mr. Jawaid Mirza
Non Executive Board Member
Mr. Jawaid Mirza is the founder and president of Focalone Consulting Company Incorporation in Ontario, Toronto, Canada. A strong proponent and practitioner of international corporate governance, well-versed in multi-country compliance. Brings with him over 35 years of diversified experience and a solid track record in all facets of financial, technology, risk and operation management. In mid May 2013, he joined CIB Board and was delegated to assume the responsibilities of Managing Director overseeing the daily work of the following areas: Consumer Banking, COO, Finance Group, and IT. In December 2013, he became a non-executive board member.
Recognized for realigning and returning to excellence and profitability, floundering business units and divisions, building collaboration across multiple jurisdictions for business and cultural change. Extensive experience as a Director, takes a firm and resolute approach to leading board committees, allowing free and open discussion while keeping a tight rein on proceedings. He has deep strategic planning experience partner with the board, multiple management levels and ethnic culture. Shrewd business strategist and tactician, prepare and presents facts-based and compelling business cases with accuracy and thorough due diligence. Analytical and patient, unravels complexity and combats skepticism leading the business through challenges, removing barriers to drive success and sharpen the competitive edge, in all economies and cultures. Spearheaded numerous mergers and acquisitions, working alongside experts through due diligence to final negotiation, contractual conclusion, and blending of multicultural resources. He has proven to be adaptive leader intuitive of international business protocol and cultural diversity, managing teams crossing multiple geographies.
Over the years, Mr. Mirza has worked with global institutions like Citicorp and ABN AMRO Bank. He started his career in Citibank as a Financial Controller in Pakistan, afterward serving in a variety of senior regional positions in ABN-AMRO in Central Eastern Europe, Europe, Central Asia, Middle East and Africa. He later moved to Hong Kong as Corporate Executive Vice President and CFO responsible for the Asian region and Australia/New Zealand. He has led successful due diligences for acquiring banks in Hungary, Taiwan, Thailand, Germany, France and Pakistan.
Mr. Mirza was a member of the Top Executive Group of ABN AMRO bank, and a member of ABN AMRO Group Finance Board as well as Group COO Board, and also served in Board of Directors with ABN AMRO Pakistan Ltd. He holds business management courses from reputable institutions including Queens Business School, Wharton Business School etc. He currently serves in the Board of Directors of Eurobank Greece (Athens) as an independent board member and Chair of the Board Risk Committee. He also served in the Board of Directors of Prime Bank, ABN AMRO Pakistan Ltd. post the acquisition and integration of Prime Bank. He also served in the boards of non-profit organizations namely: Artistri Sud (Montreal), Humewood House (Toronto). He is also a member of the Institute of Corporate Directors, Canada.
Mr. Mirza is CIB Non-executive Board Member since January 2014 and Chairs the Operations & Technology Committee and a member of the Risk Committee. He is also a member of the Advisory Board and the GCC.
Mr. Yasser Zaki Hashem
Non Executive Board Member
Mr. Yasser Hashem received his LL.B. from Cairo University in 1989. He is the Managing Partner of Zaki Hashem & Partners since 1996 and Partner from 1989 to 1996. He was admitted by the Egyptian Court of Cassation in 2007 and is a member of the Egyptian Society of International Law and the Licensing Executive Society. The legal skills he has in corporate M&A and Capital Market, extended to the privatization of public sector entities, the inception of the private provision of telecom services in Egypt, and the promulgation of its laws, have placed him as a value veteran of the legal practice in Egypt.
With a special focus on the practice of corporate law, Mr. Hashem played a major role in the privatization of public sector entities in Egypt through his support to hundreds of restructurings, Capital Market Transaction incorporations of foreign and domestic companies and advising foreign and local investors on the most efficient vehicles and structures that suit their investment in Egypt.
Mr. Hashem’s legal skills were also extended to the telecommunication sector in Egypt throughout his contribution to the drafting and negotiation of all major telecom licenses including public payphones, mobile cellular networks, private data networks, satellite and
marine fiber optic cabling, etc. His expertise in the telecom field led to his appointment by Ministerial Decree as Member of the New Telecommunication Act Drafting Committee. In relation to the fields of M&A and Capital Markets, he was responsible for most of the IPO’s that took place in Egypt throughout the last decade and has reliably represented acquirers in all major tender offers and M&A transactions in Egypt. Furthermore, he has led the largest four major multibillion US$ M&A transactions in Egypt post the January 2011 Revolution.
Combining a wide range of extensive legal knowledge with honed networking and interpersonal skills. Mr. Hashem protects and furthers the interest of over 100 local and international clients.
Mr. Hashem is CIB Non-executive Board Member since May 2013 and a member of the Audit Committee.
Mr. Sherif H. Kamel
Non Executive Board Member
Dr. Sherif Kamel is the Vice President for Information Management, and is former founding dean of the American University in Cairo’s (AUC) School of Business (2009-2014). He joined CIB’s Board of Directors in 2013. Dr. Kamel was associate dean for executive education (2008-2009) and director of the management center (2002-2008). Before joining AUC, he was director of the Regional IT Institute (1992-2001) and managed the training department of the Cabinet of Egypt’s Information and Decision Support Center (1989-1992). His experience focuses on investing in human capital, and building and managing executive development institutions addressing IT, management, governance, entrepreneurial, and leadership issues. Dr. Kamel is a member of the Egypt-US Business Council (2013-present) and a member of the AACSB International Middle East Advisory Council (2015-present). He is an Eisenhower Fellow (2005).
Dr. Kamel holds a PhD in Information Systems from London School of Economics and Political Science (1994), and an MBA (1990) and MA in Islamic Art and Architecture (2013) from AUC. His research and teaching interests include IT transfer to developing nations, IT management, electronic business, and decision support systems. Dr. Kamel received a number of organizational leadership awards for serving the IT community from the Cabinet of Egypt (2011), BIT World, Mexico (2000) and Information Resources Management Association, USA (1999). He also received AUC Distinguished Alumni Faculty Service Award (2014), the UNDP National Human Resource Development Award (2014), the School of Business Leadership Award (2013), the AUC President’s Catalyst of Change Award for Citizenship and Service (2013).
Dr. Kamel is CIB Non-executive Board Member since May 2013 and is a member of the Audit Committee, the Operations & Technology Committee and the GCC.
Mr. Mark Richards
Non Executive Board Member
Chairman of IPGL Limited. As the Chief Executive of IPGL Ltd., the principle shareholder of Exotix, Mark brings considerable expertise in navigating frontier and emerging markets, most recently as Partner and Global Head of Financial Services at Actis, one of the world’s leading and most ethical emerging market private equity groups focused on Africa, Asia and Latin America. He has Global responsibility for making and leading investments in fast growth financial services groups, and in ensuring good governance. During 11 years at Actis, Mark was responsible for building many successful companies, including the market leading Brazilian brokerage XPinvestmentos.
He previously spent 18 years at Barclays in senior roles including CFO of the International Offshore Bank, Director of Group Strategy and Head of Group Corporate Development.
With his 29 years of global experience in Banking and Financial Services (including Uk, Africa and Asia), Mark serves as Non-Executive Director for a number of companies, including Egypt’s leading private sector bank CIB, where he chairs the Risk Committee. He has a first class degree from Oxford University in modern history and economics.
He completed the Accelerated Development Program from London Business School, and Group Level Strategy from Ashridge Management College. He also attended the Leading Professional Services Firms Program at Harvard Business School.
Mr. Richards is CIB Non-executive Board Member since March 2014 and Chairs the Risk Committee and a member of the Audit Committee and the GCC.
Non Executive Board Member
President & CEO, Fairfax International
Mr. Bijan Khosrowshahi joined Fairfax Financial Holdings in June 2009 and is currently based in London, UK. Fairfax is a financial services holding company which, through its
subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Fairfax is listed on the Toronto Stock Exchange.
Fairfax International focuses on expanding Fairfax’s International insurance presence outside North America. Bijan also represents Fairfax’s interests as a board member in Gulf Insurance Group k.S.C.P. and Gulf Insurance & Reinsurance Company in Kuwait, Bahrain Kuwait Insurance Company B.S.C., Arab Misr Insurance Group S.A.E. in Egypt, Arab Orient Insurance Company in Jordan, Gulf Sigorta A.S. in Turkey, Alliance Insurance Company P.S.C in United Arab Emirates, as well as Jordan Kuwait Bank in London, and BRIT Limited in the United Kingdom.
Prior to joining Fairfax, Bijan was the President & CEO of Fuji Fire & Marine Insurance Company Limited, based in Japan. He is the only non-Japanese individual who has been the President of a publicly traded Japanese insurance company. In 2002, Fuji Fire & Marine began a major reform of the company after investment by its major shareholders American International Group (AIG) and ORIX Corporation. Bijan was elected President in June 2004 and successfully implemented a turnaround strategy to return Fuji to profitability and growth through taking strategically leading positions within the insurance industry in Japan.
From 2001 to 2004, he was the President of AIG’s General Insurance operations based in Seoul, South Korea where a major restructuring plan resulted in significant revenue and profitability increases through specific product and channel strategies.
From 1997 until 2001, Bijan, as the Vice Chairman and Managing Director of AIG Sigorta based in Istanbul, Turkey, was involved in negotiating strategic alliances and joint ventures with Turkish conglomerates and working with governmental regulators to improve support for new product introductions for the emerging Turkish insurance market.
Prior to this position, he was Regional Vice President of AIG’s domestic property and casualty operations for the Mid-Atlantic region based in Philadelphia. Bijan also held various underwriting and management positions with increasing responsibilities at AIG’s headquarters in New York since joining AIG in 1986.
Bijan obtained an MBA in 1986 following an undergraduate degree in Mechanical Engineering in 1983 from Drexel University. He participated in the Executive Development Program at the Wharton School of the University of Pennsylvania in 2003 and is a regular lecturer at universities and insurance institutes.
He has served on the board of Foreign Affairs Council and the Insurance Society of Philadelphia. He has also been a council member of USO in South Korea, the Chairman of the insurance committee on the American Chamber of Commerce in South Korea, and a member of the Turkish Businessmen’s Association. He is also a member of the U.K. Chartered Insurance Institute.
Mr. Bijan is CIB Non-executive Board Member since October 2014 representing the interest of Fairfax Financial Holdings Ltd. and is a member of the Risk Committee and the GCC.