Nauman Dar to retire as President & CEO of HBL from Dec

KARACHI: Habib Bank (HBL) announced former State Bank of Pakistan (SBP) governor Salim Raza has joined the HBL as director on HBL board.

According to a statement issued by HBL Secretary Nausheen Ahmad, HBL also appointed Sagheer Mufti as its Chief Operating Officer (COO).

The press release says Nauman Dar will retire as President and CEO of from December 31, 2017 after 15 years of service with the premier bank of Pakistan.

Until a formal appointment has been made, Rayomond Kotwal, HBL’s current Chief Financial Officer, will be officiating as the interim CEO.

Meantime, the bank appointed Syed Salim Raza as director on the Board of HBL.

The HBL press statement further says, “Mr. Raza is an accomplished banker, having served in senior positions in Citibank N.A, both in Pakistan and globally. As a former Governor of the State Bank of Pakistan, Mr. Raza brings extensive experience and knowledge of the banking industry as well as regulatory frameworks and will add great depth to the Board.”

According to the bank, Sagheer Mufti has been appointed as COO—a new position established by the HBL Board.

Mufti has 34-year experience with Citibgroup where he regional and global level responsibilities in operation, technology and compliance.

Sagheer was last associated with Abu Dhabi Islamic Bank (ADIB) where he is the currently the COO, responsible for ADIB’s operations, risk, compliance and control function including cyber security, business continuity and technology.

The HBL also appointed Nassir Salim as its head of Global Operations with effect from December 18, 2017.

Nassir has 30-year experience with Citi with key responsibilities. In 2015, he joined Abu Dhabi Islamic Bank (ADIB) where he is EVP and Head of Retail Operations and has been helping to improve the customer experience through leveraging process re-engineering, automation and digital initiatives.

The bank also appointed Nauman Riaz as Chief Compliance Officer. He has 23 years of experience with Citi. Lastly, he was the EMEA Director for Operational Risk/Enterprise Risk Management for Corporate, Investment & Retail Business.

News Reporter