Mashreq appoints John Iossifidis as Head of International Banking Group
13 August 2009
Dubai, United Arab Emirates, August 13, 2009 – Mashreq announced the appointment of John Iossifidis as the new Executive Vice President and Head of International Banking. In his capacity he will be responsible for developing Mashreq’s business a cross the Middle East and North Africa.
Commenting on the appointment, Abdul Aziz Al Ghurair, CEO of Mashreq stated; “Attracting and retaining the top talent in the industry is particularly crucial to achieving our targets and provide value to our shareholders. As Mashreq continues to grow and expand, John’s excellent track record in the banking industry will be instrumental in strengthening the bank’s position and operational strategy.”
An expert in the field, Iossifidis brings with him over two decades of experience in the banking industry, with a strong background in corporate banking, strategy development, project management and finance. Prior to joining Mashreq he was the Regional Head, Origination and Client Coverage business across the Middle East and Wholesale Banking for Standard Chartered Bank. Within this role, Issofidis was focused on developing and executing business strategy, driving performance, in addition to developing the bank’s relationship with key corporate and institutional clients around the region. Prior to joining Standard Chartered, Iossifidis had a 16 year career with ANZ Bank, with his last position as their CEO for Sri Lanka.
Commenting on his appointment Iossifidis said, “Mashreq has been an intrinsic part of the regional banking industry stretching back to the 1980s. I am eager to take on my new role and spearhead Mashreq’s extensive expansion plans offering high quality services and sound banking products to suit the growing needs of the market. We want to build MENA’s best regional bank”
Mashreq, reported a 3% year on year increase in operating revenues for the first six months of 2009 in spite of challenging market conditions. Revenue for the second quarter of 2009 remained strong at AED 1.2 Billion, equal to the first quarter’s revenue of the year.