It has been recently reported that Bank Alfalah has announced major restructuring in its management team. According to our source, the restructuring process was started few months ago to maintain growth momentum. The bank’s newly appointed President and CEO Nauman Ansari issued a memo stating that six individuals from the management team have decided to leave.
Nauman Ansari issued an internal memo on 31st October with the subject “Re-Org of the Management Team and Change in Reporting Lines.”
“To maintain our momentum, we must accelerate the transformation of our businesses and make sure we have the right organizational structure in place to strengthen our connections with a growing universe of customer and business partners,” said Nauman.
In the memo, Nauman said that some of the senior executives of the bank have decided to part ways with the financial institution including:
Faisal Farooq Khan, Group Head – HR & Learning and Corporate Services
Mirza Zafar Baig, Chief Financial Officer
Khurram Hussain, Group RMM – North, Central & Consumer Finance
Aly Mustansir, Chief Marketing Officer
Imran Zaffar, Group Head – Merchant Banking
Saadur Rehman Khan, Group Head – CIBG & International Business
Moreover, it seems that Nauman Ansari is well aware about the negative outcomes that could arise due to this restructuring process. In the same memo, he said that we are living in a fast-paced environment and should evolve with it. We must be prepared to face the challenges and capitalize on opportunities in an efficient way.
“I know that many of you have questions. In the coming days and weeks, we will be hosting town hall meetings to answer your questions. In the meantime, please feel free to contact me,” Nauman Ansari added.