HBL Immediately Appoints New President & CEO After Aurangzeb’s Resignation

HBL (Habib Bank Limited), the leading financial institution of Pakistan, announces the resignation of its President & Chief Executive Officer, Muhammad Aurangzeb effective Monday, 11 March 2024. The Board of Directors of HBL has accepted his resignation, subject to the approval of the State Bank of Pakistan, the bank told the main bourse on Monday. Aurangzeb is stepping down from HBL to assume the role of Federal Minister for Finance for Pakistan. “Subsequently, the Board of Directors of HBL has appointed Mr. Muhammad Nassir Salim as the new President & Chief Executive Officer of HBL, subject to the approval of the State Bank of Pakistan,” the filing added. Nassir Salim is currently serving as the Chief Operating Officer (COO) of HBL. Nassir has overall 35 years of diversified experience in the banking industry both locally and internationally. He has been part of HBL since 2017 and was working as Head of Branch Banking and Islamic Banking since 2021. Previously, he was Head of Global Operations for 3 years. He is also Chairman of the Board for HBL Currency Exchange. Before joining HBL, he worked in numerous financial institutions across the globe including as Head of Retail Operations for Abu Dhabi Islamic Bank (UAE) and Site President & Director for Treasury and Trade solutions for Citi Bank (USA). He was also Chairman of the Board for NIFT. He holds an MBA in Finance from the Institute of Business Administration (IBA) along with a fellowship from the Institute of Bankers Pakistan (FIBP). Sultan Ali Allana, Chairman – HBL, on behalf of the Board of Directors of the Bank said Commenting on the move, Aurangzeb said, On his appointment as President & Chief Executive Officer of HBL, Nassir Salim said, Aurangzeb’s 6-year tenure is marked by the Bank’s exceptional business growth, innovation, and steadfast commitment to serving its clients and communities. Under Aurangzeb’s leadership, the Bank has remained focused on delivering on three strategic pillars, which underpin its medium-term strategy namely These in turn are being implemented through unrelenting pursuit of Financial Inclusion, Capacity Building, and Sustainability objectives.