Major changes are underway at Bank Alfalah as it has announced a major restructuring of the management team. As reported by the business recorder,  a massive number of people from the management team have decided to leave the bank, making a huge shuffle in resources.

The following are those who have left the management team at Bank Alfalah:

  1. Faisal Farooq Khan, Group Head HR & Learning and Corporate Services
  2. Mirza Zafar Baig, Chief Financial Officer (CFO)
  3. Khurram Hussain, Group Head RMM North, Central, and Consumer Finance
  4. Aly Mustansir, Chief Marketing Officer (CMO)
  5. Imran Zafar, Group Head Merchant Banking
  6. Saadur Rehman Khan, Group Head CIBG & International Business

The bank has appointed Nauman Ansari as the President and CEO to replace Atif Bajwa who was the President and CEO for over five years and has resigned due to personal reasons.

According to the memo, after serving for six years, Faisal Farooq Khan, Group Head HR & Learning, and Corporate Services will be leaving on November 17, 2017. Bank Alfalah has not announced his replacement as yet but the GM is now going to report to Khawaja Muhammad Ahmed Group Head Operations.

The CFO will also leave on the 17th of November and Amin Sukhiani will be replacing him as the acting CFO. Khurram Hussain Group RMM North will be leaving at the end of November while the CMO, Aly Mustansir is leaving by December 10, 2017.

The President, Ansari mentioned in an inter-company memo,

“The bank’s Q3 2017 accounts are testament of performance, but to maintain momentum, we must accelerate the transformation of our business and make sure that we have the right organizational structure in place to strengthen our connections with growing universe of customers and business partners.”

Mehreen Ahmed will now be looking after the entire retail banking group, Consumer Finance, SME, Bancassurance, Bank at Work, Products and Customer Experience.

The new structure will see the marketing functions become part of the retail banking group and report to Mehreen Ahmed. The Group Head, CIBG and International Business has decided to leave Bank Alfalah from November 10 and Fakhar Ahmed will hold the office as the interim.

Nauman Ansari has announced a town hall meeting in order to answer the questions raised due to the current restructuring at Bank Alfalah.

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