ANNUAL REPORT 2016

CORPORATE GOVERNANCE

6.0. BIOGRAPHIES OF BOARD MEMBERS

  • Raymond W. Audi
    Raymond W. Audi
    Chairman of the Board – General Manager
    • Age: 84 – Lebanon
    • Director since February 1962
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Chairman of the Corporate Governance and Remuneration Committee
    Raymond Audi acts as Chairman of the Board of Directors and General Manager since December 2009.

    He started his banking career in 1962, when, together with his brothers and with prominent Kuwaiti businessmen, he founded Bank Audi, building on a successful long standing family business. He served as Chairman of the Board of Directors and General Manager from 1998 to 2008, resigning from this position when he was appointed Minister of the Displaced in the Lebanese government. He resumed his position as Chairman of the Board of Directors effective 22 December 2009.

    Raymond Audi has played an active role in leading Bank Audi through both prosperous and challenging times to its current status as a widely recognised leading Lebanese and regional bank.

    He served as President of the Association of Banks in Lebanon in 1994 and is the recipient of several honours and awards, including, in July 2007, an Honorary Doctorate in Humane Letters from the Lebanese American University.
  • Marwan M. Ghandour
    Marwan M. Ghandour
    Vice-chairman of the Board
    • Age: 73 – Lebanon
    • Director since March 2000
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Independent Non-executive Director
    • Chairman of the Group Audit Committee
    • Chairman of the Remuneration Committee
    • Member of the Board Group Risk Committee
    • Member of the Corporate Governance and Nomination Committee
    Marwan Ghandour is an independent member of the Board of Directors since March 2000 and the Vice-chairman of the Board of Directors since December 2009. He is also the Vice-chairman of the Board of Directors of Odea Bank A.Ş., Bank Audi’s subsidiary in Turkey, and a member of the Board of Directors of Bank Audi sae (Egypt).

    Marwan Ghandour is a previous Vice-governor of the Central Bank of Lebanon. He held this position between January 1990 and August 1993, with primary responsibilities in the area of monetary policy. During this period, he was also a member of the Higher Banking Commission and various other government committees involved in economic policy. In this capacity, he liaised with renowned international institutions such as the International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS). From 1995 until July 2011, Marwan Ghandour served as Chairman and General Manager of Lebanon Invest sal, a leading financial services group in the region whose holding company merged with Bank Audi in 2000.

    Since 2000, Marwan Ghandour has also served as member or chair of the Boards of a number of subsidiaries of the Bank Audi Group including (i) Chairman of the Board of Directors of Banque Audi (Suisse) SA from 2011 until 2015, and (ii) Chairman of the Board of Directors of Audi Investment Bank sal from 2005 until 2011.

    Marwan Ghandour holds a PhD in Economics (Econometrics) from the University of Illinois (Post-doctorate research at Stanford University).
  • Freddie C. Baz
    Freddie C. Baz
    VICE-CHAIRMAN OF THE BOARD
    GENERAL MANAGER – GROUP STRATEGY DIRECTOR
    • Age: 64 – Lebanon
    • Director since March 1996
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Executive Director
    • Deputy Chairman of the Group Executive Committee
    • Member of the Group Risk Committee
    Freddie Baz is the Vice-chairman of the Board and the Group Strategy Director. He joined the Bank in 1991 as Advisor to the Chairman and founded the Secretariat for Planning and Development at the Bank. As Group Strategy Director, he is now responsible for the development of the Group strategy and for its oversight and communication, internally and externally. In addition to his duties as Group Strategy Director, Freddie Baz held the position of Group Chief Financial Officer from 2006 to 2015, with overall authority over the finance and accounting, MIS and budgeting functions throughout the Group. In March 2015, he decided, jointly with the Group CEO, to hand over his Group CFO responsibilities to his deputy, in conclusion of five years of cooperation and of common efforts to achieve that objective.

    In June 2015, Freddie Baz was appointed Vice-chairman of the Board of Directors of Bank Audi sal and Bank Audi’s representative on the Board of Directors of the Association of Banks in Lebanon. He is also the Chairman of the Board of Directors of Bank Audi France sa, a fully owned subsidiary of Bank Audi, and a member of the Board of Directors of several affiliates of Bank Audi. Furthermore, he is the General Manager of Bankdata Financial Services WLL which publishes Bilanbanques, the only reference in Lebanon that provides an extensive structural analysis of all banks located in Lebanon, in addition to other specialised periodicals and reports.

    Freddie Baz holds a State PhD degree in Economics from the University of Paris I (Panthéon – Sorbonne).
  • Samir N. Hanna
    Samir N. Hanna
    General Manager – Group Chief Executive Officer
    • Age: 72 – Lebanon
    • Director since August 1990
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Executive Director
    • Chairman of the Group Executive Committee
    • Member of the Corporate Governance and Nomination Committee
    Samir Hanna is the Chief Executive Officer of the Bank Audi Group. He joined Bank Audi in January 1963 and held several managerial and executive positions across various departments of the Bank. He was appointed General Manager of Bank Audi in 1986 and member of its Board of Directors in 1990. In the early 1990s, he initiated and managed the restructuring and expansion strategy of Bank Audi, transforming it into a strong banking powerhouse offering universal banking products and services including Corporate, Commercial, Retail, Investment, and Private Banking.

    He grew the Bank to its current position as the largest bank in Lebanon (and among the top 20 Arab banking groups), with a presence in 11 countries, consolidated assets exceeding USD 44 billion, consolidated deposits exceeding USD 36 billion and a group staff headcount exceeding 7,000 employees.

    Samir Hanna is also the Chairman of Odea Bank A.Ş., Bank Audi’s subsidiary in Turkey, and member of the Board of Directors of several other affiliates of Bank Audi.

    He currently serves as the Group Chief Executive Officer and the Chairman of the Group Executive Committee, and heads all aspects of the Bank’s Executive Management.
  • Suad H. Al Homaizi
    Suad H. Al Homaizi
    Board Member
    • Age: 75 – Kuwait
    • Director since February 1962
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Non-executive Director
    Sheikha Suad Al Homaizi is a non-executive member of the Board of Directors of Bank Audi. She is the wife of late Sheikh Jaber Ali Salem Al Sabbah, a prominent member of the ruling family of Kuwait. She is one of the founders of Bank Audi.

    Sheikha Suad Al Homaizi is one of the largest Kuwaiti private real estate developers and is active in many business sectors in Kuwait and overseas, notably representing multinational corporations in the fields of infrastructure, construction, pharmaceuticals and others.

    She is a member of the Board of Directors of Bank Audi since February 1962.
  • Marc J. Audi
    Marc J. Audi
    General Manager – Country Manager Lebanon
    • Age: 59 – Lebanon
    • Director since March 1996
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Executive Director
    • Member of the Group Executive Committee
    Marc Audi is the Lebanon Country Manager of the Bank Audi Group. He serves as a member of the Board of Directors since 1996 and has been a General Manager since 2004.

    Marc Audi started his banking career in 1981. He held several executive positions within the Bank Audi Group, in a number of countries including France, the USA (California), Switzerland and Lebanon. Throughout his career, he held executive responsibilities at group level, in Commercial Lending, in Capital Markets and in Private Banking (notably serving as General Manager of Banque Audi (Suisse), the Private Banking arm of the Group, until 2005).

    Marc Audi currently serves as member of the Board of Directors of Banque Audi (Suisse) and of several other affiliates of the Bank Audi Group. He holds a Master’s of Business Administration from the University of Paris IX – Dauphine.
  • Mariam N. Al Sabbah
    Mariam N. Al Sabbah
    Board Member
    • Age: 68 – Kuwait
    • Director since March 2001
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Independent Non-executive Director
    • Member of the Group Audit Committee
    Sheikha Mariam Al Sabbah is the daughter of late Sheikh Nasser Sabah Al Nasser Al Sabbah and the widow of late Sheikh Ali Sabah Al Salem Al Sabbah, who was the son of the former Prince of Kuwait and who held several ministerial positions in Kuwait, notably the Ministry of Interior. Sheikh Nasser Al Sabbah was one of the founders of Bank Audi.

    Sheikha Mariam Al Sabbah is a member of the Board of Directors of several Kuwaiti companies.

    She is a member of the Board of Directors of Bank Audi since March 2001.
  • Imad I. Itani
    Imad I. Itani
    General Manager – Head of Group Retail Banking
    • Age: 55 – Lebanon
    • Director since June 2002
    • Term expires at the 2019 Annual General Assembly of shareholders
    • Executive Director
    • Member of the Group Executive Committee
    Imad Itani is the Head of Retail Banking of the Bank Audi Group. He serves as a member of the Board of Directors since 2002 and has been a General Manager since 2004.

    Imad Itani started his banking career at Bank Audi in 1997, after having worked for a few years in Corporate Finance for major energy companies in Canada.

    Imad Itani formed and headed the team that successfully launched the Bank’s Retail business line, today a major pillar of the Bank’s innovative and leading position. In 2002, he was appointed Deputy General Manager and Member of the Board of Directors. He was later appointed General Manager – Head of Group Retail Banking. In addition to his responsibilities as Head of Group Retail Banking, Imad Itani is also Head of Group Islamic Banking.

    Imad Itani is the Chairman of the Board of Audi Investment Bank sal, a fully owned subsidiary of Bank Audi, and a member of the Board of Directors of Odea Bank A.Ş., Bank Audi’s subsidiary in Turkey.

    He holds a PhD in Economics from the University of Chicago and is a former lecturer in Economics and Finance to graduate students at the American University of Beirut.
  • ABDULLAH I. AL HOBAYB
    ABDULLAH I. AL HOBAYB
    BOARD MEMBER
    • Age: 74 – Saudi Arabia
    • Director since April 2010
    • Term expires at the 2019 annual General Assembly of shareholders
    • Independent Non-executive Director
    • Member of the Group Audit Committee
    • Member of the Remuneration Committee
    Abdullah Al Hobayb is an independent member of the Board of Directors since 2010. He is the Chairman of several leading companies in their respective fields in Saudi Arabia, comprising ABB Saudi Arabia, Ink Products Company Ltd, Philips Lighting Saudi Arabia, Manufacturers Trading Company Ltd, Arabian Co. For Electrical & Mechanical Works and Electrical Materials Center Co. Ltd.

    Abdullah Al Hobayb is also the Chairman of Audi Capital (KSA) (an Investment Banking subsidiary of Bank Audi, incorporated in the Kingdom of Saudi Arabia) and was, until July 2014, a member of the Board of Directors of Bank Audi sae in Egypt and of Odea Bank A.Ş., Bank Audi’s subsidiary in Turkey.

    He holds a Master’s degree in Electrical Engineering from Karlsruhe University in Germany.
  • KHALIL M. BITAR
    KHALIL M. BITAR
    BOARD MEMBER
    • Age: 74 – Lebanon
    • Director since April 2010
    • Term expires at the 2019 annual General Assembly of shareholders
    • Independent Non-executive Director
    • Chairman of the Board Group Risk Committee
    • Member of the Remuneration Committee
    Khalil Bitar is an independent member of the Board of Directors since 2010. He is a current Professor of Physics and a former Dean of the Faculty of Arts and Sciences of the American University of Beirut (AUB). He held this last position from 1997 until 2009, playing an instrumental role in advocating AUB’s strengths and regional position as the premier centre for higher education, and in re-establishing its PhD programs.

    Throughout his career, he held several academic and administrative positions, including Associate Director of the Supercomputer Computations Research Institute – Florida State University (between the years 1994 and 1997) and visiting Professor at leading academic institutes in Europe and North America (including the European Organisation for Nuclear Research in Geneva, the International Centre for Theoretical Physics in Italy, The Institute for Advanced Study in New Jersey, the Fermi National Accelerator Laboratory (Fermilab) in Illinois, the University of Illinois, Brookhaven National Lab. in New York, the Max Planck Institute in Munich, and the Rockefeller University in New York). He also served two mandates as member of The Institute for Advanced Study in Princeton, New Jersey, between 1968 and 1972.

    Khalil Bitar is also a member of the Board of Directors of Audi Private Bank sal and the Chairman of its Risk Committee. He also served as member of the Board of Directors of Audi Investment Bank sal and Chairman of its Risk Committee from March 2012 until November 2013, and continues to serve as advisor to its Board for Risk Committee matters.

    Khalil Bitar holds a Bachelor of Science degree in Physics from the American University of Beirut, a Master’s of Science degree in Physics, and a PhD in Theoretical Physics from Yale University in the United States.