HBL CEO to retire by Dec-end | Business

HBL CEO Nauman K Dar — File photo/ Reuters

KARACHI: Habib Bank Limited (HBL) said on Monday its chief executive officer will retire in December 2017.

“Nauman K Dar will be retiring from the role of president and CEO, with effect from December 31, 2017,” the bank said in a notification sent to the Pakistan Stock Exchange. The board recognises Dar’s 15 years of service with the Habib Bank Limited and wishes him all the very best in this next phase of his life, the bank said.

Dar has been head of the country’s largest private sector bank by assets and deposits since September 2012. HBL has informed it has officiated Rayomond H Kotwal, its current chief financial officer, as the interim CEO until a formal appointment has been made.

The bank has also appointed ex-governor State Bank of Pakistan Syed Salim Raza as a director on the board of the Habib Bank Limited.

Raza is an accomplished banker having served in senior positions in Citibank NA globally.

The bank hopes as a former governor of the central bank, Salim Raza will bring extensive experience and knowledge of the industry and the regulatory frameworks of the markets where HBL has its presence.

Moreover, the bank has appointed Sagheer Mufti as HBL’s chief operating officer, a new position established by the Habib Bank Limited board.He will join the bank with effect from January 8, 2018. “Mufti brings him 34 years’ experience with Citigroup where he was responsible at country,regional and global level in operations, technology and compliance. In his last assignment with Citigroup, Mufti was Citibank’s head for anti-money laundering operations,” the bank said.

— Originally published in The News

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