Pakistan, July 14 -- In a key development in the banking sector, the Standard Chartered Bank (Pakistan) Limited has appointed Adil Salahuddin as its incoming chief executive officer (CEO) and director.

The appointment is subject to regulatory approval, the bank said in a notice to the Pakistan Stock Exchange (PSX) on Monday. "We hereby inform you that the Board of Directors of Standard Chartered Bank (Pakistan) Limited has approved the appointment of Adil Salahuddin as the incoming CEO and director of the bank in place of Rehan Shaikh," read the notice. Shaikh will continue to perform his duties until the incoming chief executive assumes office. Salahuddin brings more than 30 years of banking experience and has been associated with the S...