Changes in CIB's Board of Dir

RNS Number : 4468H

Commercial Intnl Bank (Egypt) SAE

21 February 2010

 



Cairo, February 21^st , 2010

CIB's Board of Directors is pleased to announce the appointment of a new member, Mr. Paul Fletcher, who will be representing Actis's investments in CIB.

Paul Fletcher is Senior Partner of Actis, leading the firm from its London headquarters. Actis currently has US$4.8bn funds under management, with over 100 investment professionals on the ground in 9 offices worldwide.

Paul joined Actis in 2000. Originally a banker with Cargill, and Banker's Trust, Paul moved into corporate finance in the early 1990s with a role at Citibank.

At Citibank, Paul led the East African operations, becoming Head of Emerging Markets Strategic Planning. Paul's career has spanned Kenya, Tokyo, New York, and London; he has two decades of experience in the emerging markets.

Paul is a Founding Director of the Emerging Markets Private Equity Association (EMPEA).

Paul has a Masters in Geography from Oxford University.

The addition of Mr. Fletcher to CIB's Board of Directors will be of tremendous value to CIB and complement our distinguished Board of Directors.

 

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