New Managing Directors Appointed at One Bank, Southeast, and South Bangla This Month

Several private sector banks in Bangladesh are welcoming new Managing Directors (MDs) this month. One Bank has already appointed its new MD, while the Bangladesh Bank has approved the appointments for Southeast Bank and South Bangla Agriculture and Commerce Bank (SBAC). The new MDs are expected to join these institutions within the coming weeks, according to sources within the banking sector.

At One Bank, Muhith Rahman assumed the position of MD on Sunday. Previously, Rahman served as the MD of Standard Chartered Bank’s Bangladesh operations, a position he held since 2005 after joining from American Express. Despite the presence of multiple MDs at Standard Chartered, the bank has only one CEO. Muhith Rahman, known for his expertise in treasury and financial markets, is expected to revamp One Bank’s operations following the departure of the previous MD, Md. Monzur Mofiz, whose term ended in February. Rahman’s appointment marks a new chapter for the bank as it seeks to expand its offerings and re-establish itself in the market.

Meanwhile, at Southeast Bank, the position of MD became vacant after Nuruuddin Md. Shadek Hossain resigned on July 28 citing health reasons. Prior to his resignation, he had been sent on a three-month leave by the bank’s board in May. Following his departure, Southeast Bank appointed Md. Khalid Mahmud Khan as the new MD. Khan, who was serving as the Additional MD and Chief Business Officer at Mutual Trust Bank, is expected to join Southeast Bank this month.

At South Bangla Agriculture and Commerce Bank (SBAC), the MD position became vacant after Habibur Rahman resigned in March. The bank has now appointed S.M. Moinul Kabir as its new MD. Kabir, who is currently serving as the DMD at United Commercial Bank, will also assume the MD role at SBAC this month.

In another development, Meghna Bank is set to appoint a new MD after the resignation of its previous MD, Kazi Ahsan Khalil, on July 27, following changes in the bank’s board. The bank’s board has reportedly interviewed several top executives from various banks for the position, and a final decision has been made. The new MD’s appointment is awaiting approval from Bangladesh Bank.

Further appointments are expected in other banks as well, as many current MDs are approaching the age of 65, the mandatory retirement age for this position. It is a routine process for banks to seek new MDs once the current holders reach the prescribed age limit.

Stay tuned for more updates on these leadership changes within Bangladesh’s banking sector.