The Boards of Saudi British Bank and Alawwal (formerly Saudi Hollandi) have agreed to merge their banks. The new bank is expected to become the third largest in Saudi Arabia, behind National Commercial Bank and Al-Rajhi.
National Bank of Egypt appoints Yasser Ibrahim as London CEO
Yasser Ibrahim has been appointed CEO and Managing Director of National Bank of Egypt (UK), based in London. National Bank of Egypt (UK) is incorporated in London as a wholly owned subsidiary of National Bank of Egypt.
Mr. Ibrahim previously spent more than 20 years with Commerzbank, most recently as the bank's Senior Representative in Egypt (and head of its Representative Office in Cairo). Before that, he had worked as Deputy Head for the GCC countries and Yemen, based in Bahrain, as well as working for Commerzbank in Frankfurt.
From May 2012 until November 2014, Mr. Ibrahim also served as the Non-Executive Chairman of the Board of Directors of Mercedes-Benz in Egypt.
He is currently the Vice Chairman of the Board of Governors of the German-Arab Chamber of Industry and Commerce; he is a Member of the Board of Trustees of the German School in Cairo; and he is a founding Member of the German Speaking Rotary Club Rhein-Nile.
NBE UK's offices are at 11 Waterloo Place, London SW1Y 4AU. The office phone number is 020 7389 1200.
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There are new appointments at First Abu Dhabi Bank in London and British Arab Commercial Bank, while a new appointment is expected at Europe Arab Bank in London.
The Arab Bankers Association sends its warmest greetings to its members and their families on the occassion of the holy month of Ramadan
The Arab Bankers Association extends its condolences to the family and friends of Tirad al-Mahmood, the CEO of Abu Dhabi Islamic Bank, who died in April after a long battle with illness.
The latest firm to join the ABA as a Corporate Member is Belleveue Mortlakes, the London-based property surveyors who are principally involved in property valuation but also manage receiverships and redemptions. The firm works with a core group of about 50 UK and Middle Eastern banks. Shaf Ali will be the firm's key contact with the ABA.