The Alternative Bank Limited (Alt Bank) has appointed Gul Khan as its new Managing Director and Chief Executive Officer, following approval by the Central Bank of Nigeria (CBN).
Khan takes over from Hassan Yusuf, the bank’s founding Managing Director, bringing more than 25 years of international experience in financial services across Europe, America, Asia, the Middle East and Africa.
His appointment is expected to strengthen the bank’s leadership as it pursues its next phase of growth, with a focus on expanding its customer base, improving financial solutions and deepening its presence in Nigeria’s non-interest banking sector.
Before joining Alt Bank, Khan served as Chief Executive Officer and Board Director of I&M Bank Kenya. He also held the position of Group Head of Products at Airtel Money, overseeing the fintech business across 14 African markets.
His previous roles include Global Head of Retail Banking and Wealth Management at HSBC Amanah, the banking group's non-interest financial services business. He has also held senior executive positions with financial institutions in the United Arab Emirates, Egypt and Qatar.
Commenting on the appointment, Chairman of Alternative Bank, Muhtar Bakare, expressed confidence in Khan’s experience and ability to build on the institution’s achievements.
“Gul’s expertise in non-interest banking and his leadership experience across African financial services position him well to lead Alternative Bank through its next phase of growth. The Board is confident in his ability to build on the Bank’s foundations and broaden its reach, while maintaining the strong governance and commercial discipline essential to long-term success,” Bakare said.
Khan is expected to work closely with the Board and management team to advance the bank’s strategic objectives, particularly in developing customer-focused financial products and supporting businesses seeking funding for expansion.
Outlining his vision for the institution, the new Managing Director said his priority would be to position Alt Bank as a preferred financial partner for individuals and businesses across the country.
“The opportunity is to make Alt Bank the preferred choice for consumers and businesses in Nigeria. That means understanding what customers need, whether acquiring productive assets or growing their businesses, and providing solutions that are relevant and they can use with ease. I look forward to working with colleagues to build on Alt Bank’s progress and earn our customers’ continued trust,” Khan said.
The leadership change comes as the bank continues to strengthen its financial and technological capacity. Alt Bank recently met the CBN’s revised minimum capital requirement for national non-interest banks ahead of the regulatory deadline.
The institution has also completed its migration to MIZAN, a core banking platform specifically designed for non-interest financial institutions. The investment is expected to improve its operational capabilities, support business expansion and facilitate the development of financial products tailored to customers’ needs.
With its strengthened capital base and technology infrastructure, the bank is positioning itself to increase financing opportunities for businesses while expanding access to non-interest banking services.
Alternative Bank operates as a subsidiary of Sterling Financial Holdings Company Plc, a diversified Nigerian financial services group. Supported by the group's institutional resources, governance structure and commitment to innovation, the bank continues to pursue its objective of making non-interest financial solutions more accessible to individuals and businesses across Nigeria.