KARACHI  - HBL (Habib Bank Limited), the leading financial institution of Pakistan, has announced the res­ignation of its President & Chief Executive Officer, Muhammad Aurangzeb effective Monday, 11th March, 2024. Aurangzeb is stepping down from HBL to as­sume the role of Federal Minister for Finance for Pakistan.

Muhammad Nassir Salim, cur­rently the Chief Operating Officer of HBL, will assume the respon­sibilities of President & Chief Executive Officer of HBL, subject to the approval of the State Bank of Pakistan. Nassir is a seasoned banker with 36 years of inter­national and domestic banking experience; he has worked in the USA, Abu Dhabi, and Pakistan with organizations like American Express Bank, Citigroup and Abu Dhabi Islamic Bank. He has been associated with HBL since 2017. Nassir joined HBL as Head Glob­al Operations and based on his contribution and capability was elevated to the position of Head Branch and Islamic Banking and then recently as Chief Operating Officer. This leadership transi­tion is a testament to the Bank’s succession and depth of talent. It also demonstrates continuity in the Bank’s strategy. 

Sultan Ali Allana, Chairman - HBL, on behalf of the Board of Directors of the Bank said “Au­rangzeb now embarks on a new chapter of service to the nation, underscoring a commitment to national responsibility. This is a value that he shares with HBL. I ex­tend our deepest appreciation for Aurangzeb’s service to HBL and strongly encouraged his assuming the new role, in national service, as Federal Minister for Finance. I am confident that he will contribute to the economic and financial de­velopment of Pakistan.Wehave full confidence inNassir Salim to accel­erate the momentum in the Bank’s business trajectory.”