Excelsior Correspondent
SRINAGAR, Oct 5: New Chairman and Chief Executive Officer of J&K Bank Parvez Ahmad will assume the charge tomorrow as per the RBI approval conveyed on September 30.
After completing his second term as Chairman and CEO J&K Bank today, Mushtaq Ahmad handed over the charge to the Bank’s Executive President Parvez Ahmad, who would assume the chair tomorrow, said an official handout.
Parvez Ahmad will be the bank’s 12th whole time Chairman and will be the first in-service Chairman and CEO and the second in-house Chairman from the bank after Mushtaq Ahmad, who had assumed the chair in October 2010 after two years of his retirement as Executive Director of the bank in 2008.
Speaking on the occasion, Mushtaq Ahmad said, “this institution shall remain as part of our being as we all remain the different yarns of its great story, which shall be told and retold successfully across generations”.
Later, the outgoing Chairman Mushtaq Ahmad received a warm send-off at the bank’s headquarters from the in-coming Chairman and CEO Parvez Ahmad along with Executive Presidents, Senior Presidents, Presidents, Vice-Presidents and other officers posted at the Corporate Office.
Parvez Ahmad joined the bank in 1998 as Company Secretary and rising through ranks swiftly he became General Manager (President) in 2006. Since 2011, he was Executive President of the Bank.
His areas of expertise and experience include Strategic Planning, Corporate Governance, Compliance, Risk Management; Credit Management, Treasury Operations, Finance and Taxation.
Heading the Investor Relations Department since 1998, he has got superb rapport with prominent Foreign Institutional Investors (FII’s) across the world resulting in creation of the Quality Investor Base and increase in FII’s shareholding of the bank to 34.92 percent. He successfully managed the recent Redeemable Bond issue (tier II capital) in addition to the bank’s maiden public issue earlier in his career.
Credited with initiating and guiding the Apple Finance project which transformed the financial landscape of horticultural sector, he has also successfully accomplished all the targets despite difficult conditions under PMJDY- the flagship scheme of Central Government.
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