Simon Jethro Lay appointed FIMbank Group CEO and Executive Director

On Friday, FIMBank announced Simon Jethro Lay’s appointment to the roles of Group CEO and Executive Director.

Mr Lay will be replacing outgoing Mohamed Louhab who resigned with the intention of retiring, effective from 1st August,

Mr Lay, who previously served as Deputy CEO, will hold these positions, subject to regulatory approval, until further notice is made by the bank.

Presently, he does not hold and has not held a directorship in any other local issuer.

His career in banking started with Midland Bank/HSBC Banking group. Throughout the years he has worked in a number of departments including international banking, corporate finance, controller of lending, trade finance and forfaiting.

He was also given the responsibility of leading Midland’s forfaiting subsidiary, Mid Aval.

In 1991, Mr Lay joined London Forfaiting Company Ltd (LFC) where he occupied numerous senior positions and was entrusted with the expansion of the company’s operations in the Americas, the Middle East and Turkey.

In 1997, he was appointed to the company’s Board of Directors.

After FIMBank acquired LFC in 2003, Mr Lay was appointed as its Managing Director taking global responsibility for the company’s business. This includes its overseas branches and subsidiaries.

During this time, the company was transformed from making losses to one which contributed to the profitability of FIMBank.

Mr Lay, who forms part of the bank’s Executive Committee held the role of Bank Representative Officer in the United Kingdom while also being CEO of LFC.