KARACHI: The Board of Directors of Silkbank has appointed Shahram Raza Bakhtiari as the new President and CEO of the Bank, the bank disclosed in a filing to Pakistan Stock Exchange on Wednesday.
The filed notification also mentions that Bakhtiari who had been leading the Retail and Consumer Banking at Silkbank until now would replace Azmat Tarin. Tarin has decided to step down upon expiry of his contract in August 2020, after 12 years as the President and CEO. The Bank further said that Bakhtiari appointment is subject to approval from the State Bank of Pakistan and compliance with all applicable laws, rules and regulations.
In other news, Rehan Shaikh has joined Standard Chartered Bank Pakistan Limited as Chief Executive. SCB confirmed on Wednesday that Rehan Shaikh has joined the bank in Pakistan as the new CEO and his appointment is being announced post receiving all regulatory approvals.
Rehan has been in the banking industry for over 35 years, most recently being the CEO Islamic Banking, based in Dubai, UAE. Commenting on the appointment SCB Regional CEO AME Sunil Kaushal said, “Rehan’s leadership and experience will further strengthen and deepen our client relationships in Pakistan and he will play a key role in achieving our aspirations in one of the most strategic markets for the AME Region.”
Commenting on his new role Shaikh said, “Pakistan continues to be a key market for Standard Chartered. With a strong commitment to the country, our deep local knowledge uniquely positions us to take advantage of the opportunities that exist in the market and leverage our network to continue to grow the business.”