Newly-appointed federal minister Muhammad Aurangzeb resigns as HBL President & CEO

Muhammad Aurangzeb has tendered his resignation as President and Chief Executive Officer (CEO) of Habib Bank Limited (HBL) following his appointment as a Federal Minister. He is likely to be given the portfolio of finance.

In a notice to the Pakistan Stock Exchange (PSX), HBL, the country’s largest commercial bank, said: “Muhammad Aurangzeb, has tendered his resignation to the Board of Directors of Habib Bank Limited (“HBL”) and shall step down as President & Chief Executive Officer of HBL,” read the notice.

As per the notice, the Board of Directors of HBL accepted Aurangzeb’s resignation, subject to the approval of the State Bank of Pakistan.

“Subsequently, the Board of Directors of HBL has appointed Muhammad Nassir Salim, as the new President & Chief Executive Officer of HBL, subject to the approval of the SBP,” added the notice.

Nassir Salim is currently serving as Chief Operating Officer (COO) of HBL.

Nassir Salim background

As per information available on the CDC Pakistan website, 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 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 solution 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 of the Institute of Bankers Pakistan (FIBP).