Prime Bank CEO resigns, set to join Eastern Bank as MD
From 1 April, the bank’s current additional managing director, Faisal Rahman, will serve as acting CEO
Hassan O Rashid, chief executive officer (CEO) of Prime Bank, has resigned from his post, the bank said.
The board of directors accepted his resignation at a meeting held on 10 February. As a listed company, the bank disclosed the information to investors yesterday (15 February) in compliance with regulatory requirements.
According to a filing published on the website of the Dhaka Stock Exchange, the board formally accepted Hassan's resignation, which will take effect on 31 March, subject to approval from Bangladesh Bank.
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From 1 April, the bank's current additional managing director, Faisal Rahman, will serve as acting CEO, the statement said. A notice regarding Hassan's resignation has also been published on Prime Bank's website.
Sources at Eastern Bank said the leading private lender has decided to appoint Hassan O Rashid as its next managing director (MD). The tenure of the bank's current MD, Ali Reza Iftekhar, will end on 19 April.
Iftekhar has led Eastern Bank since 2007. Hassan is set to succeed him as MD upon completion of his term, in line with age-related retirement provisions.
