Muhammad Aurangzeb resigns as President and CEO of HBL

WEB DESK: Habib Bank Limited (HBL) is set for a leadership transition as Muhammad Aurangzeb, the President and Chief Executive Officer (CEO), has submitted his resignation.

This decision follows his recent appointment as a Federal Minister, with indications pointing towards the finance portfolio.

In an official notice to the Pakistan Stock Exchange (PSX), HBL, the largest commercial bank in the country, conveyed, “Muhammad Aurangzeb has tendered his resignation to the Board of Directors of Habib Bank Limited (“HBL”) and shall step down as President and Chief Executive Officer of HBL.”

The Board of Directors at HBL has acknowledged and accepted Aurangzeb’s resignation, contingent upon the approval of the State Bank of Pakistan (SBP).

In response to this development, the Board has designated Muhammad Nassir Salim as the new President and Chief Executive Officer of HBL, pending approval from the SBP.

Currently serving as the Chief Operating Officer (COO) of HBL, Nassir Salim brings over 35 years of diverse experience in the banking industry, both locally and internationally.

Nassir joined HBL in 2017 and has been instrumental in various roles, including Head of Branch Banking and Islamic Banking since 2021.

Prior to his tenure at HBL, he held key positions in global financial institutions, serving as the Head of Retail Operations for Abu Dhabi Islamic Bank (UAE) and Site President and Director for Treasury and Trade Solutions at Citi Bank (USA). Additionally, he served as the Chairman of the Board for NIFT.

This strategic move ensures continuity in HBL’s leadership, with Muhammad Nassir Salim poised to guide the bank through its future endeavours, subject to the SBP’s formal approval.

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