The Central Bank of Egypt (CBE) has approved the appointment of Mohamed El-Atreby as the managing director and CEO of the Egyptian Gulf Bank (EGB). EGB announced in a statement to the Egyptian Exchange that Ali Shaker resigned because he wants to quit the executive work. Shaker was named the managing director of EGB in October 2011, following Saeed Zaki who left the executive post to be a non-executive member of the board of directors. El-Atreby was chairman of the Arab Investment Bank and then became a chairman of the Egyptian Arab Land Bank. EGB's board of directors includes Mohamed Gamal El-Din as the chairman, Hamid Ahmed El-Rashid as deputy chairman and Ali Ismail Shaker as CEO and managing director. There are eight members of the board of directors which are Ashraf Abdel Tawab Salman, Saeed Zaki Mohamed, Sherif Salah El-Din, Heider Hassan Abdel Rasul, Raed Bukhamseen, Abdel Wahab Abdel Menem, Gamal Elsayed Abdel Aal and Sadek Hassan Sadek. The Egyptian Gulf Bank's Shareholders: Name Stake Percentage Sons of Mohamed Mahmoud 19.48% Misr Insurance Company 19.39% Abdel Rahman Hassan Sharbatly 8.20% El Naiem Capital 9.67% Abdullah Taha Bakhesh 7.14% Bu Khamseen Company 6.75% Barrari Kuwait Commercial Co 4.77% El Arabia Real Estate for investment Co 3.44% Khaldoun Bakry Barakat 2.10% Red Sea Insurance Co 1.55%
