New CEO Mohammed Gad is a banker with 22 years of experience in top positions at Standard Chartered, including as CEO of its Qatar subsidiary and country head of corporate, commercial and institutional banking.

Gad also held multiple leadership roles at Mashreq Bank and Arab Bank.

“Mohammed will lead the Bank's market expansion, strengthen our client base, product and service offering expansion, and network consolidation in support of the nation's aspirations for economic progress. I have no doubt that this appointment will strengthen our position in the Egyptian market and the region,” said Boutros Klink, CEO of Standard Chartered Middle East.

The recent appointment shows Egypt’s potential as a market for global banks like Standard Chartered, according to the statement.

The bank received its license to operate in the country in November 2022.

Standard Chartered is headquartered in the UK but operates in 53 markets, mainly across Asia, Africa, and the Middle East.