HSBC Bangladesh names first local CEO
25 March, 2020
The Hongkong and Shanghai Banking Company (HSBC) yesterday announced Md Mahbub ur Rahman as its next chief executive officer for its localized operations, becoming the first Bangladeshi to helm the positioning.
The decision will come into effect from April 5 and he would succeed Francois de Maricourt, who'll be moving on to a fresh role, the lender said in a statement.
Rahman is defined to be among a small band of Bangladeshis who actually held top positions at global banks' businesses in the country.
In 1997, Muhammad A (Rumee) Ali became the first of all Bangladeshi to be the CEO of a foreign bank's Bangladesh procedures when he was appointed at the pole position of Regular Chartered Bangladesh.
Later, Abrar A good Anwar held the position and Naser Ezaz Bijoy replaced him in November 2017.
In his new part, Rahman will be top rated HSBC's next phase of development ambitions since it solidifies its job among the top rated international banks in Bangladesh, with strong leadership in trade finance, the bank said.
Rahman joined HSBC in 2002 and once was deputy chief executive officer in addition to head of low cost banking in Bangladesh. Ahead of this, he led HSBC's commercial banking business in Malaysia.
He started his job with Regular Chartered Bangladesh.
"I am delighted that Mahbub will be leading our developing Bangladesh organization," said Matthew Lobner, mind of international and approach and preparation of HSBC for Asia-Pacific, in the affirmation.
His depth of neighborhood and international experience, collaborative approach and strong leadership credentials will be key assets in strengthening our strategic positioning and pursuing our expansion strategy in the united states.
"I would also prefer to thank Francois de Maricourt for his leadership and significant contribution to the strong progress of our Bangladesh organization during his five-years at the helm," Lobner added.
An MBA from the Kellogg-HKUST, a joint programme of the Kellogg University of Supervision and Hong Kong University of Research and Technology, Rahman has bachelor and master's degrees in finance from the University of Dhaka.
He joined HSBC in 2002 and during his 18 years with the bank, he led the business playing to its durability and positioned HSBC among the leading international bank found in Bangladesh with solid leadership in trade.
With over 2 decades of experience in professional banking, he has different experience in various leadership roles both in international financial institutions and local individual sector of Bangladesh.
HSBC Bangladesh's income soared 16 % last time on the back of higher interest profit, although its mother or father company's tumbled. The local businesses of the London-established Asia-focused overseas bank's profit-after-taxes stood at Tk 491 crore, up from Tk 445 crore a yr earlier.
The Uk lender opened its first branch in Bangladesh in 1996. It provides a variety of financial providers, including commercial banking, consumer banking, global liquidity and cash management, trade solutions, treasury, and custody and clearing.
Presently, HSBC Bangladesh operates in both major commercial hubs of Dhaka and Chattogram and offers presence in all eight export processing zones.
HSBC serves consumers worldwide from office buildings in 64 countries and territories in its geographical regions: Europe, Asia, THE UNITED STATES, Latin America, and the center East and North Africa.
With assets of $2,715 billion by 2019, HSBC is one of the world's major banking and economical services organisations.
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