Dubai, 11 October 2022

Zand Bank PJSC, the first digital and fully licensed bank to provide both retail and corporate services, has announced a leadership change with Olivier Crespin, co-founder and CEO, moving on to pursue other interests with effect from October 5, 2022.

Mr. Mark James Chittenden, Zand's CTO, has assumed the role of interim CEO, and a new CEO will be appointed shortly by the Board of Directors.

HE Mohamed Alabbar, Chairman of Zand, said, “On behalf of the Board, we thank Olivier for his rich contribution to creating a truly digital-first bank fit for the new reality. He has played a key role in building Zand's operations from the ground up. He also assembled a talented and highly capable operational team of experienced bankers and technologists, who will continue to deliver on the vision of the Board of Directors. We wish Olivier the best in all his future endeavours.”

“It has been a privilege to work with the best team in the industry over the past four years. Zand has achieved significant milestones that will establish its position as the bank of the future. I thank the Board of Directors and the excellent team for the passion and commitment to transform conventional approaches to banking,” said Mr. Crespin.

Zand recently received its banking license from the UAE Central Bank, authorizing and regulating it as a fully independent commercial bank. Subsequently, the digital bank onboarded its first corporate clients.