Muhammad Aurangzeb takes oath to lead finance team after quitting HBL

Muhammad Aurangzeb took the oath with the 19-member cabinet of Prime Minister Shehbaz Sharif on Monday, shortly after resigning from the position of President and Chief Executive Officer (CEO) of Habib Bank Limited (HBL).

According to a notice sent to the Pakistan Stock Exchange (PSX) the HBL board has accepted Aurangzeb's resignation, however, a final approval from the State Bank of Pakistan is pending.

Aurangzeb will lead PM Shehbaz's finance team and is expected to be given the portfolio either as finance minister or as an advisor.

In the wake of this development, Muhammad Nassir Salim has been appointed the successor to the role of President and CEO of HBL, pending regulatory endorsement.

Salim brings to the table over 35 years of extensive experience in the banking sector, both within Pakistan and internationally.

Since joining HBL in 2017, he has made significant contributions to the bank, most recently serving as its Chief Operating Officer since January 2024.

His leadership extends beyond his immediate responsibilities at HBL, as he also presides over the Board of HBL Currency Exchange.

Salim's career prior to his tenure at HBL is marked by notable positions across various global financial institutions.

His roles have included Head of Retail Operations at Abu Dhabi Islamic Bank in the UAE and Site President & Director for Treasury and Trade solutions at Citi Bank in the USA.

Additionally, he has held the position of Chairman of the Board for NIFT, showcasing his breadth of experience in the financial services industry.

Salim is an MBA Finance graduate from the Institute of Business Administration (IBA) and holds a fellowship from the Institute of Bankers Pakistan (FIBP), highlighting his academic and professional qualifications for leading HBL into its next chapter.