Selim RF Hussain will take over as the managing director and chief executive of Brac Bank today.
He is the immediate past CEO and managing director of IDLC Finance, and is highly acclaimed across the financial sector for being the person behind the company's meteoric rise over the past six years, the bank said in a statement yesterday.
He was also the chairman of IDLC Finance's two subsidiaries -- IDLC Investments and IDLC Securities -- from 2010 to 2012. Hussain replaces Syed Mahbubur Rahman, who is moving to Dhaka Bank as its managing director and CEO and will take charge at his new office today.
Before joining IDLC Group, Hussain was the head of finance and strategy for Standard Chartered Bank's consumer banking division in Mumbai, and served as chief financial officer of Standard Chartered Bangladesh. He also worked for ANZ Grindlays Bank.
Hussain is also expected to become a director at various other Brac Bank subsidiaries like Brac EPL Investments, Brac EPL Stock Brokerage, Brac Sajaan Exchange, Brac Information Technology Services, and IPDC of Bangladesh, the statement said.