Highest Paid CEO In Pakistan

The Pakistani banking industry has always been strong in the field of finance. Nowadays, the competition between banks is getting fierce in a wide range of areas throughout the world, including deposit mobilization and customer financing. It makes services easy for overseas Pakistani people and protects their shareholders and interests.

In order to fulfill this objective, there is a need for CEO for banks who manage these financing to increase their profit. A CEO (Chief Executive Officer) is a person who is considered to be one of the most senior officers of a business. He also makes the most crucial decisions for any company and organization, and he also manages their teams.

Top 10 Highest Paid CEO In Pakistan

Many of the highest-paid CEOs in Pakistan have the highest salaries. In this article, we will discuss the top 10 highest-paid CEO of Pakistan and their services in the field of financing. 

1. Irfan Siddique

Irfan Siddique is the President and CEO of Mezaan Bank. He is also a member of the Information Technology Committee and IFRS 9 (Implementation Oversight Committee of the board. In Pakistan’s banking Industry, he is one of the highest salary earners. In 2022, he earned almost Rs. 422 million, but he earned more than 37% in the year 2021, which was Rs. 306 million.

In 2022, the bank gained profit due to its leadership skills and made the highest record level of Rs. 45 billion. It was the highest growth rate year on year. He has played a significant role in the growth and development of Islamic Banking for 20 years.

He was the founder and President of the bank, but he was starting the bank business from scratch, which was based on modern Islamic banking in Pakistan. He also established the foundation for the future development of the country.

He is a soft-spoken banker who made great achievements and success, which was recorded by the bank in the recent year, through his hard work, dedication, and his team efforts. 

2. Muhammad Aurangzeb

Muhammad Aurangzeb is the highest earner in the banking industry. He is the CEO of Habib Bank Limited and also the President of HBL Bank. In 2022, he received the highest salary package of Rs. 307 million as compared to the salary that he received in 2021 of Rs. 265 million. 

Nevertheless, in terms of profit, the bank failed to maintain its top position but still maintained the historical record and maintained a reasonable highest profit of Rs. 34.4 billion. He is also the representative of the whole banking industry and the chairman of the Pakistan Bank Association. 

During his leadership in the banking industry, he made remarkable progress in many fields like agriculture lending, Branchless banking, and the most famous project of Pakistan Super League. Many banks followed his skills to grow up in the future. 

3. Shazad Dada

Shazad Dada is no doubt the highest-paid CEO in Pakistan. He is the current President and CEO of the United Bank Limited. In 2022, he received the highest salary package of Rs. 340 million as compared to the year 2021, in which he earned Rs. 249 million; in the banking industry, it is considered one of the highest profits. 

Under his leadership in the banking industry, the bank has the highest record in financial performance of Rs. 32 billion; the bank also made progress in technology in recent years after getting benefits from his services. Dada did his graduation from the University of Pennsylvania. 

Dada focuses on people, profit, customers, and the target that was set before the initiative, and he also shuts down the branches when the target does not meet. In 2019, he worked in a team of 16 senior bankers; the bank invested Rs. 427 million in them.

He also gives services to local banks. Dada spent his five years in a Standard Chartered Bank as a CEO, and before that, he was also a CEO and Managing Director of Barclays Bank in Pakistan. He also served as a director at Deutsche Bank.

Related Article: 10 Highest Paid Jobs In Pakistan

4. Rehan Shaikh

Rehan Shaikh is the President and CEO of Standard Chartered Bank. He received the highest salary in the banking industry, Rs. 224 million, which is compared to the year 2021, which was Rs. 194 million. Under his management, the bank made the highest profit record of Rs 19.84 billion, which was recorded in 2022. 

Earlier, he was also the senior vice president and business head of the private sector and transaction banking at Dubai Islamic Bank. He was also an employee at Pakistan’s bank offices between 1998 and 2007, in different roles managing corporate banking and client relationships.

In his career, he has played different roles in various positions like corporate relationship management, risk management, remedial management, international trade finance, and branch management.

5. Atif Bajwa

Atif Bajwa is also the highest-paid CEO. He is also a current President at Bank Alfalah. In 2022, he received the highest salary package of Rs. 255 million as compared to the year 2021, in which he earned Rs. 187 million; in the banking industry, it is reported as one of the highest profits, at 37 million. 

Under his leadership, the bank recorded the highest increase in profit of 27 percent in the previous year. In 2022, the network of branch assets and the bank will also progress in growth. Atif Bajwa was the President of the bank for over five years before he resigned in 2017 due to personal issues. 

6. Zafar Masud

In the banking industry, Zafar Masud plays a significant role as the CEO and the President of Punjab Bank. He earned the highest salary package as a CEO in the year 2021, which was Rs. 181 million; as compared to the year 2021, which was Rs. 134 million, he gained a profit of Rs. 47 million. He recorded a significant increase in profit of Rs.47 million in 2022.

He received a higher salary than 3rd President of the National Bank of Pakistan, which owns the provincial government. He is becoming famous due to his good quality service and technical implementation. Nowadays, Zafar is in 6th position as the highest-paid banker in Pakistan. 

7. Mansoor Ali Khan

Mansor Ali Khan is the highest-paid CEO of Bank Al Habib Limited Bank since 2016. He had been working in this bank since 1994 in various positions like Zonal Head, Group Head, and Chief Operating Officer. On the Board of Habib Asset Manager, he was nominated as a Director, and he also worked as a Chairman of different Internal Committees of the Bank.

He has done his postgraduate in Business Administration (Banking and Finance). He got a salary of Rs.166 million in 2022, and it is considered one of the highest salaries as compared with the year 2021, in which he earned Rs. 128 million. It is the first bank that saw a downfall of 11 percent in profit among the top 10 banks. 

Under the management of Mansoor Ali Khan, the bank made the highest profit record of Rs. 11.16 billion in the year 2019. The bank has continuously made progress in the quality of service for its customers. 

8. Yousaf Hussain

Yousaf Hussain is the President and highest-paid CEO of Faysal Bank of Pakistan. In 2022, he received a salary of 166 million, which is the highest salary he received as compared to the year 2021, which was Rs. 137 million. In 2022, he made the highest profit record of Rs. 29 million.

The bank has made much progress under the management of Yosuf Hussain. In 2022, the bank reported a highest profit of Rs. 11.4 billion. The bank also transformed the banking system from conventional banking to Sharia-based banking.

He has been working with Faysal Bank Limited since 2008. He has 20 years of experience working in a multinational organization as a senior manager and in a leadership position. He was also working as a senior country head with Samba Bank. 

9. Mohsin Ali Nathani

Mohsin Ali Nathani is also one of the highest-paid CEOs in Pakistan. He is the President and CEO of Habib Metro Bank. After starting his career in banking, he first worked as a relationship manager at City Bank. 

He received an annual salary of Rs. 144 million in 2022, which is considered one of the highest salaries as compared with the year 2021, in which he earned an amount of Rs. 24 million. He made a record for the highest increase in profit of Rs. 20 million.

Habib Metro Bank is making the highest progress in the banking industry under his management. He also made progress in profit of Rs. 14.9 billion with a growth of 8 percent; it is one of the highest profits made by the bank. Mohsin Ali Nathani is a banker with a good understanding of banking in the local market. 

10. Shoaib Mumtaz

Shoaib Mumtaz is the President and CEO of MCB Bank. He earned the highest salary of Rs. 105 million in 2022. His predecessor, Imran Maqbool, has a far higher salary than him; Imran received an annual income of Rs. 233 million in 2021. 

Under his management, the bank made a profitable growth of 6.6 percent, which surged to Rs. 34.45 billion in 2022. MCB also maintained its highest ranking among the top 10 profitable banks in the country.

Conclusion

In this article, we discussed the highest-paid CEO of Pakistan, whose salary ranges vary from Rs. 400 million to Rs. 100 million based on the performance and profit of the bank. These bankers also received benefits, special allowances, awards, company-maintained cars, club fees, and foreign tours.