Sterling Financial Holdings Company Plc has appointed Gul Khan as the new managing director of Alternative Bank Limited, its non-interest banking subsidiary, as the group moves to strengthen its digital banking operations and expand its presence in Nigeria’s non-interest financial services market.
The appointment, which took effect on November 5, 2026, has received approval from the Central Bank of Nigeria (CBN), according to a notification filed with the Nigerian Exchange Limited on November 10.
Khan succeeds Hassan Yusuf, who retired as managing director on November 4 following the completion of his tenure.
The new chief executive brings more than 25 years of financial services experience across Africa, Europe, the Americas, Asia and the Middle East, with expertise spanning retail banking, digital financial services, product development and business transformation.
Before his appointment, Khan was chief executive officer of Kenya-based I&M Bank Limited, where he led what Sterling described as a period of accelerated growth and transformation, resulting in improvements in revenue, profitability and market share.
He previously served as head of products at Airtel Money Africa, where he was responsible for driving revenue growth, expanding the platform’s active customer base and supporting major equity investment initiatives.
His career also includes senior leadership positions at international financial institutions such as HSBC, Abu Dhabi Islamic Bank (ADIB), Gulf Bank and Doha Bank, with responsibilities covering retail banking, wealth management, digital transformation and strategic planning.
Sterling said the appointment was a strategic move towards advancing Alternative Bank’s ambition of becoming Nigeria’s leading innovative digital non-interest bank.
“Mr. Khan’s extensive experience in scaling digital financial services, developing innovative products and driving business transformation across multiple markets is expected to support Alternative Bank’s strategic priorities,” the holding company said in the regulatory notification.
The leadership change comes as financial institutions increasingly seek to deepen digital distribution, develop new financial products and broaden access to banking services through technology-driven platforms.
Alternative Bank operates within Nigeria’s non-interest banking segment, which offers financial products structured around Islamic finance principles rather than conventional interest-based lending.
Khan’s experience in mobile financial services and banking transformation could provide the subsidiary with leadership expertise in expanding its digital capabilities and developing products for underserved customer segments.
Sterling Financial Holdings also acknowledged the contribution of the outgoing managing director, Hassan Yusuf, thanking him for his leadership and role in the subsidiary’s growth and wishing him success in his future endeavours.
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