Al Rayan Bank appoints new Chairman

Al Rayan Bank, the UK’s largest and longest established Islamic bank, has announced the appointment of Michael Williams as Chairman of the Bank’s Board of Directors, subject to regulatory approval. Michael will replace Malcolm Brookes who has served as Interim Chairman since October 2020 and who will resume his role as Senior Independent Director at the Bank upon Michael’s formal appointment as Chairman in October.

Michael Williams also serves as Chairman of Walbrook Asset Finance, a position he has held since April 2020, and as Chairman of Marubeni Komatsu Equipment Finance, a position he has held since March 2016.  Michael served as Deputy Chairman at Bank of London and Middle East (BLME) during a nine-year spell from 2012 to 2021.

He will take up the position of Chairman from 1 October 2021 and will bring more than 35 years of experience of Islamic and conventional financial services with him. 

Commenting on his appointment, Michael Williams said, “I am excited to have been appointed Chairman of the Board and look forward to leading Al Rayan Bank to the next level of growth.  I look forward to working with the Board and the management team and am very confident that the Bank can capitalise on the opportunities that lie ahead, as the UK economy emerges from the impact of the pandemic. On behalf of the Bank, its Board and Shareholders, I would like to thank Malcolm Brookes for his leadership and guidance as Interim Chairman.”