Karachi, March 11, 2024 –Habib Bank Limited announced the appointment of Muhammad Nassir Salim as its new President and Chief Executive Officer on Monday.
The move comes as Muhammad Aurangzeb, the outgoing President and CEO, tendered his resignation to the Board of Directors of Habib Bank Limited.
According to a communication shared with the Pakistan Stock Exchange (PSX), the board of directors accepted Muhammad Aurangzeb’s resignation, pending approval from the State Bank of Pakistan (SBP). Following this acceptance, the Board swiftly appointed Muhammad Nassir Salim as the successor to lead Habib Bank, contingent upon SBP’s approval.
Muhammad Nassir Salim brings a wealth of experience and expertise to his new role, having served in various capacities within the banking sector. The decision to appoint him as the new President and CEO aligns with the bank’s commitment to maintaining a strong and capable leadership team.
While Muhammad Aurangzeb steps down from his position, it’s noteworthy that he is set to embark on a new chapter in his career. Recent reports suggest that Aurangzeb joined the newly formed cabinet of the government, following the latest elections. Sources indicate that he is likely to take on the role of the federal minister with responsibilities in the finance portfolio.
Muhammad Aurangzeb’s tenure at Habib Bank has been marked by notable achievements and contributions to the financial landscape. His move to the federal ministry represents not only a personal milestone but also signifies the acknowledgment of his capabilities in navigating the complexities of the banking industry.
The Board of Directors expressed gratitude for Muhammad Aurangzeb’s dedicated service and leadership during his tenure. The transition to a new President and CEO is viewed as a strategic move to ensure continuity and sustained growth for Habib Bank Limited.
Nassir Salim’s appointment is poised to bring fresh perspectives and strategic insights to the helm of the bank. The Board of Directors has voiced confidence in his ability to guide Habib Bank through the dynamic and evolving landscape of the financial industry.
The formal approval of the State Bank of Pakistan is the final step in solidifying these leadership changes. Once granted, Nassir Salim will officially assume the role of President and CEO, marking the beginning of a new chapter for Habib Bank Limited.
