Mohamed Bedir, CEO and Managing Director of Bank Audi Egypt, has submitted his resignation from his position at the bank, Daily News Egypt has learned.
Sources indicated that Bedir is currently choosing between several offers from other banks operating in the Egyptian market, with his new position to be announced at a later time.
Daily News Egypt has also learned that Akram Tinawi, Chairperson of Bank ABC – Egypt, will not continue in his position.
In a statement on Wednesday, Tinawi said that he will leave the bank within days, and that he has other offers that he will disclose at a later date.
He added that change is natural, and pointed out that during his tenure at Bank ABC Egypt, he managed to achieve positive results relating to performance indicators and expansions through new and advanced banking services and branches.
Tinawi’s successor has yet to be chosen, although he added that Deputy Managing Director Mohamed Taha will carry out his duties until the selection of the new CEO is completed.
Furthermore, the parent group is conducting meetings with individuals working in the Egyptian banking sector, to negotiate a replacement for the position.
Both Bedir and Tinawi succeeded in leading Bank Audi and Bank ABC Egypt, respectively, to achieve positive results.
Bedir’s experience in the banking field spans nearly 28 years, during which he was responsible for various activities. These included: corporate banking; commercial banking; retail banking; treasury; risk management; market risk; asset and liability management; trade finance; finance; information technology; information systems; and financial planning.
Tinawi assumed the presidency of Bank ABC at the end of 2010, as the youngest CEO of a bank in Egypt.
He boasts over 25 years of experience in the banking sector, and in addition to his presidency of ABC, he served as a member of the Board of Directors at Bank ABC in Algeria.
He also served as board member in: the Egyptian Competition Authority; the Egyptian-Bahraini Joint Business Council; and the Federation of Egyptian Banks (FEB); as well as president of the FEB’s Electronic Payment Systems Committee.
Bank Audi Egypt was sold to First Abu Dhabi Bank, while Bank ABC acquired BLOM Bank Egypt.