Karachi – The federal government has officially appointed Arif Usmani as the President and Chief Executive Officer (CEO) of the National Bank of Pakistan (NBP), according to an official note received by the Pakistan Stock Exchange (PSX) on Wednesday.
The Ministry of Finance had previously notified the appointment a day earlier, signaling a significant development in the leadership of one of the country’s largest financial institutions.
Arif Usmani brings a wealth of experience to his new role, having held key positions in prominent financial institutions across the globe. His extensive career spans over 35 years, marked by leadership roles in various geographic markets and senior positions in diverse banking disciplines.
According to Usmani’s profile, he served as the Head of Risk Management at Mashreqbank in 2017, where he likely played a crucial role in steering the bank through the complexities of risk in the financial sector. Prior to that, in 2012, he assumed the role of Global Head of Wholesale Banking at Abu Dhabi Islamic Bank PJSC, showcasing his expertise in wholesale banking operations.
Usmani’s association with Citibank N.A. Pakistan is noteworthy, where he served as the Managing Director and Citi Country Officer. His journey with Citibank began in 1981, starting as a Unit Head for the Corporate Banking Group. Over the years, he ascended through various senior positions, demonstrating his commitment and proficiency in the banking industry.
The new President and CEO’s career trajectory with Citibank included a significant period of secondment with Saudi Arabia’s second-largest bank, SAMBA, based in Riyadh from 1989 to 1994. During this time, he held the position of Division Head and managed some of the largest borrowing relationships in the region, showcasing his leadership and managerial acumen.
Usmani’s appointment comes at a critical juncture for the National Bank of Pakistan, as it faces the challenges and opportunities inherent in the dynamic financial landscape. His extensive experience in risk management, wholesale banking, and his diverse international exposure position him well to lead the bank through the complexities of the evolving financial sector.
The National Bank of Pakistan plays a pivotal role in the country’s financial sector, serving as a key player in banking and financial services. The appointment of Arif Usmani is expected to bring a fresh perspective and strategic vision to the institution, aligning with the broader objectives of the federal government in promoting financial stability and economic growth.
As Arif Usmani takes the helm at the NBP, stakeholders will be keenly observing the strategic initiatives and leadership decisions he brings to the table. His track record of leadership and his extensive experience make him a valuable asset for steering the National Bank of Pakistan through the challenges and opportunities that lie ahead. The financial community awaits the unfolding of this new chapter under Usmani’s leadership.
