CIB announced that Mr. Hussein Abaza has been appointed as Chief Executive Officer of the bank and named a member of the Board of Directors, a position which was vacant since April 27th, 2016. As CEO, Mr. Abaza is now responsible for the bank's strategy and operations across all functions. Mr. Abaza is a career banker with more than 30 years of experience in the financial services industry - including both commercial and investment banking - and is well-known in the global financial community.

From October 2011 until his appointment, he was CEO for Institutional Banking at CIB. The company also announced that Mr. Amr EL Ganainy will assume the role of Acting CEO Institutional Banking pending regulatory approvals.