CIB announced yesterday that Hussein Abaza has been appointed CEO of the bank and named a member of the Board of Directors. As CEO, Mr Abaza will be responsible for the bank’s strategy and operations across all functions. His appointment has been approved by the Central Bank of Egypt. Until his appointment today, Mr Abaza was CEO of Institutional Banking at CIB, and previously had other management positions at the bank, including Chief Risk Officer and Chief Operating Officer. He joined CIB in 1985. The appointment is in line with the previous CBE recommendation for banks to split the functions of Chairman, a position currently held by Hisham Ezz El Arab, and CEO. CIB also announced that Mr Amr El Ganainy will assume the role of acting CEO for Institutional Banking pending regulatory approval.