The Alternative Bank has appointed Gul Khan, former Chief Executive Officer of I&M Bank Kenya, as its new Managing Director, following approval by the Central Bank of Nigeria.
Khan succeeds Hassan Yusuf, the bank’s founding Managing Director, according to a statement issued by the financial institution on Wednesday.
He brings more than 25 years of international experience in financial services, having held senior positions across Europe, America, Asia, the Middle East and Africa.
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Before joining Alt Bank, Khan served as CEO and Board Director of I&M Bank Kenya. He also worked as Group Head of Products at Airtel Money, which operates across 14 African markets.
His previous roles include Global Head of Retail Banking and Wealth Management at HSBC Amanah, the non-interest banking arm of HSBC, as well as executive positions at banks in the United Arab Emirates, Egypt and Qatar.
The Chairman of Alternative Bank, Muhtar Bakare, said Khan’s experience in non-interest banking and leadership across African financial services made him suitable to lead the institution’s 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,” Bakare said.
In his remarks, Khan said he would focus on making Alt Bank the preferred financial institution 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,” he said.
He added that he looked forward to working with the bank’s employees to build on its progress and sustain customers’ trust.
The appointment comes as Alt Bank says it has met the Central Bank of Nigeria’s revised minimum capital requirement for national non-interest banks ahead of the regulatory deadline.
The bank also disclosed that it had completed its migration to MIZAN, a core banking platform designed specifically for non-interest financial institutions.
According to the statement, the stronger capital base and technology investment would improve its capacity to finance businesses and develop financial products tailored to customers’ needs.
Alternative Bank is a subsidiary of Sterling Financial Holdings Company Plc.
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