HBL decides to appoint new CEO by December 2017 HBL decides to appoint new CEO by December 2017

Habib Bank Limited (HBL) board has announced that existing Chief Executive Officer (CEO), Nauman Dar, will retire by end of the December 2017.

Following the board meeting, HBL announced that “Nauman K Dar will be retiring from the role of president and CEO, with effect from December 31, 2017,”

In the notification issued, the board recognized Dar’s 15 years of service with the Habib Bank Limited and wishes him all the very best in future endeavors.

Dar has been head of the country’s largest private sector bank by assets and deposits since September 2012.

Read: HBL’s PnL takes dive to Rs 1.6 billion after DFS fine

HBL board has appointed Chief Financial Officer (CFO),Rayomond H. Kotwal, as the interim CEO until a formal appointment has been made.

The bank has also appointed ex-governor State Bank of Pakistan Syed Salim Raza as a director on the board of the Habib Bank Limited.

Read: HBL faces penalty over Rs66 billion, decides to shutdown operations in New York

Following the New York State Department of Financial Services (DFS) hefty penalty, HBL has also created Chief Operating Officer position in the bank and appointed Sagheer Mufti as HBL’s chief operating officer.

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