Al Rayan Bank names new CEO

Al Rayan Bank has appointed Giles Cunningham (pictured above) as its new CEO, subject to regulatory approval.

Giles — who most recently worked at the Bank of London and The Middle East, where he was group CEO — will take over from Al Rayan Bank’s outgoing CEO, Peter Horton. 

He has 20 years of experience at director level within financial services, including roles at Lloyds TSB, Lloyds Banking Group, and various global banks. 

“Over the last two decades, Al Rayan Bank has played a hugely significant role in pioneering Islamic finance in the UK, helping to cement its position in the mainstream of UK banking and create a platform for other Islamic banks to operate against,” said Giles.

“I am delighted to have the opportunity to contribute to the ongoing success of the bank as CEO, working with the board, executives, and my new colleagues to build on the many accomplishments of the past.” 

Michael Williams, who will formally become chairman at Al Rayan Bank in October, added: “We are very pleased to be welcoming Giles on board. 

“He brings many years of banking experience, with a strong track record of growing and developing banks here in the UK and internationally. 

“Al Rayan Bank is an Islamic bank, with sustainable, ethical values at its core — those principles have arguably never been so important as in the current climate.

“We look forward to working with Giles as we build and nurture them now and in the years to come.”

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