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India : Selim R. F. Hussain appointed as the new Managing Director & CEO of BRAC Bank Limited.

The Board of Directors of BRAC Bank Limited has appointed Mr. Selim R. F. Hussain as the bank s new Managing Director & CEO wef November 8, 2015. Hussain is a career banker and an immediate past CEO & Managing Director of IDLC Finance Limited who is widely recognized and highly acclaimed across the financial sector for being the architect of IDLC Finance s meteoric rise over the past six years. He was also the Chairman of the Board of Directors from 2010 to 2012 of IDLC Finance s two subsidiaries IDLC Investments Limited and IDLC Securities Limited.

Hussain has an Honours degree in Accounting from Dhaka University and an MBA (Major in Finance) from the Institute of Business Administration, also from Dhaka University. He worked in various roles with the two largest multi-national banks in Bangladesh, ANZ Grindlays Bank and Standard Chartered Bank, for twenty four years, before moving to the IDLC Group in 2010. He has resided and worked in India and Australia for significant periods of his career and, prior to taking over the helm at IDLC Finance Limited, was the Head of Finance & Strategy for Standard Chartered Bank's Consumer Banking Division in Mumbai, India. Mr. Hussain was also CFO for Standard Chartered Bank, Bangladesh, from 2002 to 2007. Hussain was also a Director at the Credit Rating Agency of Bangladesh (CRAB) and the Vice Chairman of the Bangladesh Leasing & Finance Co Association (BLFCA) since 2012.

Hussain will lead a large branch banking and SME network and is expected to step up Brac Bank s business momentum and inclusive banking initiatives and thereby fulfill the bank s vision of being a socially responsible and profitable financial institution focused on building a poverty free Bangladesh. He is expected to become a Director at various other Brac Bank subsidiaries e.g. Brac EPL Investments Ltd, Brac EPL Stock Brokerage Ltd, Brac Sajaan Exchange Ltd., Brac Information Technology Services Ltd and also at the latest Brac investment, IPDC of Bangladesh.

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Publication:Mena Report
Date:Nov 9, 2015
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