Appointment
The Alternative Bank Ltd. (Alt Bank) has appointed Gul Khan as its new Managing Director, following approval by the Central Bank of Nigeria (CBN).
According to a statement issued by the bank on Wednesday, Khan succeeds Hassan Yusuf, the bank’s founding Managing Director.
The bank said Khan would bring more than 25 years of international experience in financial services across Europe, America, Asia, the Middle East and Africa.
Before his appointment, Khan served as Chief Executive Officer and Board Director of I&M Bank Kenya.
He also served as Group Head of Products at Airtel Money, the fintech business operating across 14 African markets.
Khan previously held the position of Global Head of Retail Banking and Wealth Management at HSBC Amanah, the non-interest banking arm of HSBC.
His career also includes executive leadership positions in banks across the United Arab Emirates, Egypt and Qatar.
The Chairman of Alternative Bank, Mr Muhtar Bakare, said Khan’s expertise in non-interest banking and leadership experience across African financial services positioned him well to lead the bank into its next phase of growth.
“The Board is confident in his ability to build on the bank’s foundations and broaden its reach, while maintaining the strong governance and commercial discipline essential to long-term success,” he said.
In his remarks, Khan said his priority was to position Alternative Bank as the preferred choice for individuals and businesses in Nigeria.
“That means understanding what customers need, whether acquiring productive assets or growing their businesses, and providing solutions that are relevant and easy to use.
“I look forward to working with colleagues to build on Alt Bank’s progress and earn our customers’ continued trust,” he said.
The statement noted that Alternative Bank had met the CBN’s revised minimum capital requirement for national non-interest banks ahead of the regulatory deadline.
It also disclosed that the bank had completed its migration to MIZAN, a core banking platform designed specifically for non-interest financial institutions.
According to the statement, the strengthened capital base and technology investment would enhance the bank’s capacity to finance businesses and develop customer-focused financial products.
Alternative Bank is a subsidiary of Sterling Financial Holdings Company Plc, a Nigerian financial services group. (NAN)
