Sterling HoldCo Subsidiary, Alt Bank appoints Gul Khan as MD/CEO
AI Executive Briefing
Gemini Flash AI~45s readThe Alternative Bank, a non-interest banking subsidiary of Sterling Financial Holdings Company Plc, has appointed Gul Khan as its new Managing Director and CEO. This leadership transition follows the bank's successful recapitalization and migration to a new core banking platform, MIZAN.
Context & Background
- ✦The appointment occurs within the regulatory framework of the Central Bank of Nigeria (CBN), which mandated revised minimum capital requirements for national banks.
- ✦The bank operates under a dual-bank model alongside Sterling Bank, allowing the parent company to cater to both conventional and non-interest banking segments.
Key Figures & Named Entities
Gul Khan:New MD/CEO with over 25 years of international experience in Europe, America, Asia, the Middle East, and Africa.Muhtar Bakare:Chairman of The Alternative Bank who expressed confidence in Khan’s ability to lead the bank's next growth phase.Yemi Odubiyi:Group CEO of Sterling Financial Holdings Company Plc who confirmed the completion of the capital-raising programme.
Outlook & Next Steps
Gul Khan intends to focus on understanding customer needs and expanding the bank's reach, while the institution continues to leverage its strengthened capital base and new technology to drive growth.
Key Takeaways
AI Summary- The Alternative Bank (Alt Bank) has appointed Gul Khan as its new Managing Director and CEO, following Central Bank of Nigeria (CBN) approval.
- Gul Khan brings over 25 years of international financial experience, including leadership roles at I&M Bank Kenya and HSBC Amanah.
- Alt Bank has successfully met the CBN’s revised minimum capital requirements ahead of the March 2026 deadline and migrated to the MIZAN core banking platform.
Key Facts:December 2024 to October 2025: Sterling Financial Holdings Company Plc completed its capital-raising programme for its banking subsidiaries.February 2026: Sterling Financial Holdings Company Plc confirmed the full recapitalisation of its core banking subsidiaries.
Editorial Excerpt
The Alternative Bank Limited (Alt Bank), the non-interest banking subsidiary of Sterling Financial Holdings Company Plc, has appointed Gul Khan as its Managing Director and Chief Executive Officer, following approval by the Central Bank of Nigeria (CBN).
Frequently Asked Questions About This Story
Who did Gul Khan succeed as the Managing Director of The Alternative Bank?
Gul Khan succeeded Hassan Yusuf, who served as the bank’s founding Managing Director.
What is the significance of the MIZAN platform for The Alternative Bank?
MIZAN is a core banking platform specifically designed for non-interest financial institutions that the bank has migrated to in order to support its operations and product development.
