After completing his second term as Chairman and CEO, J&K Bank, Mushtaq Ahmad today handed over the charge to the bank's Executive President Parvez Ahmad who would assume the chair tomorrow (6th October) as per the RBI approval conveyed on 30th September last week.
Parvez Ahmad shall be the bank's 12th whole time Chairman after assuming the chair tomorrow.
Parvez Ahmad shall 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. Mushtaq Ahmad remained the bank's chairman for six years i.e. for two terms of three years each.
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, 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.
New Chairman's Profile
Born in 1964, Parvez Ahmad joined the bank in 1998 as Company Secretary. Rising through ranks 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, Bancassurance, Finance and Taxation.
He has worked closely with all the Chairmen of the Bank from 1998. Heading the Investor Relations Department since 1998, he has got superb rapport with prominent Foreign Institutional Investors (FII's) across the world.
He successfully managed the recent Redeemable Bond issue (tier II capital) in addition to the bank's maiden public issue earlier in his career.
He is credited with initiating and guiding the Apple Finance project. He has successfully accomplished all the targets under PMJDY despite difficult conditions.
His other strengths as a good leader include patient listening, keen observation, affable personality and decisive action.