CEO of UAE’s digital bank Zand steps down

Oliver Crespin, CEO of UAE’s digital bank Zand, has stepped down from his role.

Crespin is ‘moving on to pursue other interests with effect from October 5, 2022,’ the bank said in a statement.

Mark James Chittenden, Zand’s CTO, has assumed the role of interim CEO. Meanwhile, a new CEO will be appointed shortly by the bank’s board.

“On behalf of the board, we thank Olivier for his rich contribution to creating a truly digital-first bank fit for the new reality,” said Mohamed Alabbar, chairman of Zand. “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.”

“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 Crespin, who is also the co-founder of Zand.

Zand recently received its banking license from the UAE Central Bank, regulating it as a fully independent commercial bank.

Read: Digital lender Zand receives licence from UAE Central Bank

Subsequently, the digital bank on-boarded its first corporate clients.

In July, the bank also announced its board of directors.

Read: Digital bank Zand announces board of directors