Banking veteran Varouj Nerguizian retires as Group CEO of Bank of Sharjah, receives advisory role

The Board of Directors Bank of Sharjah PJSC (Abu Dhabi SE: BOS) (the “Bank” or the “Group”), one of the leading commercial banks in the UAE, today announced that Varouj Nerguizian will take up the new role of advisor to the Board, effective January 2023.

Mario Tohme, General Manager will step in for the interim pending the appointment of a new CEO in the coming months. Nerguizian will continue to work closely with the Board of Directors and the Management team to ensure a smooth transition.

Sheikh Mohammed Bin Saud Al Qasimi, Chairman of Bank of Sharjah said: “On behalf of the Board of Directors, I would like to extend my sincere thanks to Mr. Nerguizian, who has played a major role in the growth and prosperity of Bank of Sharjah for nearly 45 years. On secondment from Banque Paribas, Nerguizian’s journey, which began in 1977, has been distinguished with continued success. Under his stewardship, Bank of Sharjah has continued to contribute to the UAE economy and play a key role in supporting the growth and development of prominent local businesses. Nerguizian’s commitment to social responsibility and creating shareholder value has been central to driving the Bank’s strategy and success for more than 30 years, and we look forward to continuing to benefit from his knowledge, experience and advice.”

“Looking back on my 30 years at the helm of Bank of Sharjah, I feel a sense of immense pride and accomplishment in contributing to the Bank’s leading position in the UAE corporate banking sector,” said Varouj Nerguizian. “My retirement was delayed by Covid 19 and the challenges for the release of the 2021 financials. I am moving ahead with fond memories, having worked with some team members and customers since my early days. 2023 marks Bank of Sharjah’s 50th anniversary and since its inception, the Bank under the leadership of the Board has established its position as one of the driving forces behind economic growth in the Emirate of Sharjah, through its commitment to the highest standards of environmental, social and evolving governance. I look forward to supporting the Board and the Management team under the leadership of the new CEO as they continue to steer the Bank towards further success. “

Nerguizian started his career with Bank G. Trad- Credit Lyonnais Beirut, followed by a secondment from Banque Paribas to Bank of Sharjah UAE in 1977. Nerguizian was appointed as General Manager of Bank of Sharjah on January 1, 1992 and Group CEO on January 1, 2018. He is a member of the Board of Trustees of the American University of Sharjah and the Conseil Stratégique de l’ Université Saint Joseph of Beirut.

Besides his professional life, Nerguizian is actively involved in, and a prominent figure of, the UAE, French, Lebanese and Armenian communities. He has been awarded numerous distinctions from France, Armenia, the Armenian Apostolic and Catholic Churches, and the Holy See of Vatican.

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