Kazmi appointed NIB Bank president

RECORDER REPORT

KARACHI: Badar Kazmi has been appointed President of NIB Bank in Pakistan by Tamasek Holdings of Singapore.

The Singaporean government-owned investment arm had invested in NIB and later purchased now defunct PICIC Commercial Bank to shoot up to seventh position in terms of size in the country. But NIB purchase was at market peak. The economy tanked south and NIB's efforts to become a leading lender to small and medium-size businesses did not materialize as well. As a result, NIB lost its capital and Tamasek had to inject more capital to fill the loss hole.

Kazmi started his carrier with Bank of Credit and Commerce. And, up the closure of BCCI took up a treasury position at Standard Chartered Bank in Pakistan. He later moved to Dubai and rose to regional treasurer's position.

He came back to Pakistan to replace Azhar Hameed on latter's retirement. Hameed was the country head of ANZ Grindlays Bank. And, was selected to head the combined bank after purchase of Grindlays by Standard Chartered.

Kazmi soon expanded the network of the combined bank from 15-odd branches to 45 and later spearheaded the acquisition of Union Bank by Standard Chartered to make it the largest overseas bank in the country. He was transferred to Riyadh, Saudi Arabia, after completion of his tenure at Standard Chartered. He recently resigned from Standard Chartered.

BACKGROUND

Badar Kazmi served as the Chief Executive Officer of Standard Chartered Bank Pakistan Limited, a subsidiary of Standard Chartered PLC from 2003 September 2010. Kazmi joined Standard Chartered in 1991 as Head of Treasury in Pakistan. During his tenure, he held various senior positions with Standard Chartered Bank in Pakistan and in the UAE. Whilst in UAE his last assignment was as Regional Head of Global Markets, Middle East, South Asia and Africa. He started his banking career as a Graduate Management Trainee at BCCI in 1980. He served as Chairman of Standard Chartered Leasing Ltd. He served as the Chairman of Standard Chartered Leasing Ltd. He served as the Chairman of Standard Chartered Modaraba from July 17, 2003 to September 27, 2010. He also served as a Director of Standard Chartered Bank Pakistan Limited until September 2010.

He is also member of the Council of the Institute of Bankers Pakistan. In recognition of his services to banking in Pakistan, he has been awarded 'Sitara-e-Imtiaz' by the Government of Pakistan. He has a BSc Degree from the University of Karachi.