The Alternative Bank Limited (Alt Bank), the non-interest banking subsidiary of Sterling Financial Holdings Company Plc, has appointed Gul Khan as its new Managing Director and Chief Executive Officer following approval by the Central Bank of Nigeria (CBN).
Khan takes over from Hassan Yusuf, who served as the bank’s founding Managing Director, marking a leadership transition as the financial institution seeks to strengthen its operations and expand its presence in Nigeria’s banking sector.
The appointment was announced in a statement issued by the bank, according to Brandspur Banking News Desk, which noted that the change comes amid Alt Bank’s plans to widen its reach and develop financial products for individual and business customers.
The leadership transition places Khan at the head of a bank operating within Nigeria’s non-interest finance segment, which provides banking services structured around principles that prohibit interest-based transactions.
Alt Bank said its immediate priorities include consolidating its operations, reaching more customers and improving the financial solutions available to consumers and businesses.
Khan’s appointment also marks a new phase for the institution following Yusuf’s tenure as its pioneer chief executive, during which he led its establishment and initial operations.
However, the bank’s announcement did not disclose further details about Khan’s previous professional positions, his proposed management agenda or specific timelines for the planned expansion.
The appointment has received congratulatory messages from banking and financial services professionals following its announcement on LinkedIn.
