Habib Financial institution Restricted (HBL) has made an appointment of Muhammad Aurangzeb as President and CEO of the financial institution.
Muhammad Aurangzeb is a revered and seasoned banker with greater than 30 years of various expertise in main world banks from Pakistan and different international locations. He’s presently the CEO of World Company Financial institution, Asia Pacific at JP Morgan.
He began his profession with Citibank, first in Pakistan and later in New York. He then joined ABN AMRO Financial institution in a senior management position, rising to the place of Nation Supervisor in Pakistan. He has since held senior-level regional and world positions in ABN AMRO Amsterdam, RBS Singapore and, since 2011, with JP Morgan.
Mr. Aurangzeb is a graduate of the Wharton Faculty, College of Pennsylvania. He obtained a bachelor’s diploma in Science and Economics in addition to an MBA from the identical college.
With the appointment of Muhammad Aurangzeb, HBL has develop into the one financial institution with famend and senior bankers onboard.
Final yr, the financial institution employed two former governors of SBP — Ashraf Mehmood Wathra as Senior Company Advisor on Worldwide Technique and Operation and Syed Salim Raza as a director of the board.
Sadly, the board of administrators did not discover a appropriate full-time CEO of the financial institution and appointed Royomond Kotwal because the appearing CEO and President of the financial institution, who can also be the CFO of the financial institution. The financial institution additionally created a brand new place of Chief Working Officer (COO) to rent Saghir Mufti, who joined his designated workplace just lately.
Specialists declare that the financial institution is on this scenario as a result of it misplaced a gifted banker, Sima Kamil, who’s now the CEO and President of United Financial institution Restricted.
Will probably be attention-grabbing to see how HBL plan’s to recuperate its standing within the banking business with this new management after the closure of a branch in New York together with a heavy penalty.