Parvez Ahmed Shahid (born 20 December 1948) is a retired banker and in his most recent role served as co-chairman of the Central Management Committee at

Bank Alfalah Bank Alfalah Limited ( ), formerly known as Habib Credit and Exchange Bank, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of an Emirati conglomerate, Abu Dhabi United Group. It is one of the largest private banks ...

from 2006 to 2011. Prior to this he worked for an international bank in which his last role was that of head of global treasury and resigned from

BCCI The Board of Control for Cricket in India (BCCI) is the principal national governing body of the sport of cricket in India. Its headquarters are situated at the Cricket Centre in Wankhede Stadium, Mumbai. BCCI is the wealthiest governing body ...

in June 1991. Shahid also served as the coordinator in Pakistan fo
Abu Dhabi Group
, a group based in the

United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...

and headed by Nahayan Mabarak Al Nahayan, a senior member of the Abu Dhabi Royal Family and Minister in the Federal Government of

UAE The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal elective monarchy made up of seven emirates, with Abu Dhabi serving as i ...

. With Shahid and Nahayan's personal friendship going back to the 1970s, Shahid was jointly responsible along with his brother Bashir Tahir for bringing in foreign investment to

Pakistan Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the List of countries and dependencies by population, fifth-most populous country, with a population of over 241.5 million, having the Islam by country# ...

to the tune of over $1 billion.

Family and early life

Shahid was born in

Lahore Lahore ( ; ; ) is the capital and largest city of the Administrative units of Pakistan, Pakistani province of Punjab, Pakistan, Punjab. It is the List of cities in Pakistan by population, second-largest city in Pakistan, after Karachi, and ...

West Pakistan West Pakistan was the western province of Pakistan between One Unit, 1955 and Legal Framework Order, 1970, 1970, covering the territory of present-day Pakistan. Its land borders were with Afghanistan, India and Iran, with a maritime border wit ...

. His father, Sheikh Muhammad Zameer, was a banker by profession and worked for a bank owned by the Government of

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

, prior to the

Independence of Pakistan The Pakistan Movement was a religiopolitical and social movement that emerged in the early 20th century as part of a campaign that advocated the creation of an Islamic state in parts of what was then British Raj. It was rooted in the two-nation th ...

. Shahid is the youngest amongst five siblings. His eldest brother, Khurshid Ahmed Tariq, is a retired banker, followed by Bashir Tahir and Jamshed Ahmed Anjum, who also happen to be retired bankers. His sister, Naseem Rauf, has done her MA in English from

University of Punjab The University of the Punjab (UoP) is a public research university in Lahore, Punjab, Pakistan. Founded in 1882, its international influence has made it one of the most prestigious universities in South Asia; being the oldest and largest publ ...

Education

Shahid completed his Bachelor of Science from

Forman Christian College Forman Christian College is a private nonprofit Liberal arts college, liberal arts Universities in Pakistan, university in Lahore, Punjab, Pakistan. It was founded in 1864 and is administered by the Presbyterian Church (USA), Presbyterian Church ...

in 1971. In 1987, Shahid attended a course on options trading at the prestigious

Insead INSEAD ( ; French: ''Institut européen d'administration des affaires'') is a non-profit business school with locations in Europe (Fontainebleau, France), Asia (Singapore), the Middle East (Abu Dhabi, UAE) and North America (San Francisco, USA ...

in Font En Bleu,

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

. Shahid also attended a 3-month Finance and Management course in

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

, where he studied the style of management of Japanese institutions including but not limited to

Daiwa Bank () is the holding company of , the fifth-largest banking group in Japan as of 2012. It is headquartered in the Kiba area of Koto, Tokyo. The main operating entities of the group are Resona Bank, a nationwide corporate and retail bank headq ...

Yamaichi Securities was a Japanese securities trading firm. The company announced it would cease operations on November 24, 1997 and was declared bankrupt by the Tokyo District Court on June 2, 1999. History Yamaichi, formed in 1897, was at one time one of the ...

Nomura Securities is a Japanese financial services company and a wholly owned subsidiary of Nomura Holdings, Inc. (NHI), which forms part of the Nomura Group. It plays a central role in the securities business, the group's core business. Nomura is a financial ...

, Osakaya Securities,

Toyota Motors is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the largest automobile manufacturer in the world, producing ...

Panasonic is a Japanese multinational electronics manufacturer, headquartered in Kadoma, Osaka, Kadoma, Japan. It was founded in 1918 as in Fukushima-ku, Osaka, Fukushima by Kōnosuke Matsushita. The company was incorporated in 1935 and renamed and c ...

, Nippon Kokun, and numerous others

Professional life

Bank of Credit and Commerce International

Upon completing his education, Shahid joined

in 1973 in

Abu Dhabi Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most popu ...

. He assumed the role of Head of Central Support Office for Global Treasury Operations,

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

from 1984 to 1986, after which he returned to

and was given the charge as the bank's Joint Executive In-Charge of Treasury. Shahid resigned from the bank in June 1991 for personal reasons and moved back to his country of birth the same year. Notable people who have worked with Shahid at

are:

Consultancy

From 1992 until 1996, Shahid worked as a consultant and managed a trading company along with some of his friends.

Bank Alfalah Limited

Bank Alfalah Limited Bank Alfalah Limited ( ), formerly known as Habib Credit and Exchange Bank, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of an Emirati conglomerate, Abu Dhabi United Group. It is one of the largest private banks ...

was acquired in 1997 by Abu Dhabi Group of

. Shahid led the bidding process as he was the authorised power of attorney holder of Nahayan Mabarak Al Nahayan. Formerly Pakistan's smallest bank with just three branches, Shahid led its acquisition and then nurtured the institution and his colleagues to become the country's 5th largest private bank ''(6th largest if Pakistani Government owned

National Bank of Pakistan National Bank of Pakistan (NBP) is a Pakistani government-owned multinational commercial bank which is a subsidiary of State Bank of Pakistan. It is headquartered in Karachi, Pakistan. As of December 2022, it has over 1,500 branches across Paki ...

is also included)'' with over 471 domestic and international branches in

Bangladesh Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by ...

Afghanistan Afghanistan, officially the Islamic Emirate of Afghanistan, is a landlocked country located at the crossroads of Central Asia and South Asia. It is bordered by Pakistan to the Durand Line, east and south, Iran to the Afghanistan–Iran borde ...

and

Bahrain Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia. Situated on the Persian Gulf, it comprises a small archipelago of 50 natural islands and an additional 33 artificial islands, centered on Bahrain Island, which mak ...

. Shahid infused the highest international standards of customer service, innovation, technology, marketing, brand building, and finance into

. At

, Shahid succeeded in creating a regional franchise with a virtually global presence as the bank has a high brand recall and recognition.

is an example of the institution which Shahid had, alongside an excellent and dedicated management team, built into a US$300 Million business from an initial, overall equity investment of only US$40 Million, thereby creating tremendous shareholder value translating into a potential 8x

return on investment Return on investment (ROI) or return on costs (ROC) is the ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favorab ...

in 13 years ''(in case the bank were to be sold today and without taking into account the dividends that have been paid out so far).''

Warid Telecom

Dhabi Group, led by Nahayan Mabarak Al Nahayan decided to diversify from banking into other sectors such as communication, real estate, and other financial services. During the Government of

Pervez Musharraf Pervez Musharraf (11 August 1943 – 5 February 2023) was a Pakistani general and politician who served as the tenth president of Pakistan from 2001 to 2008. Prior to his career in politics, he was a four-star general and appointed as ...

, two

GSM The Global System for Mobile Communications (GSM) is a family of standards to describe the protocols for second-generation (2G) digital cellular networks, as used by mobile devices such as mobile phones and Mobile broadband modem, mobile broadba ...

licenses were auctioned and Nahayan Mabarak Al Nahayan, after the successful acquisition of

through Shahid, again nominated Shahid to act as his authorised power of attorney and Shahid jointly led the consortium of investors through the bidding process. After successfully acquiring the

license for $291 million, Shahid oversaw the rollout of

Warid Telecom Warid Telecom International () was an Emirati telecommunications company that was active in Bangladesh, Georgia, Congo, Pakistan, and Uganda before its divestment. Pakistan In 2004, Warid Telecom International LLC, purchased a license for oper ...

in Pakistan and dealt with global telecom giants such as

Ericsson (), commonly known as Ericsson (), is a Swedish multinational networking and telecommunications company headquartered in Stockholm, Sweden. Ericsson has been a major contributor to the development of the telecommunications industry and is one ...

Huawei Huawei Technologies Co., Ltd. ("Huawei" sometimes stylized as "HUAWEI"; ; zh, c=华为, p= ) is a Chinese multinational corporationtechnology company in Longgang, Shenzhen, Longgang, Shenzhen, Guangdong. Its main product lines include teleco ...

Motorola Motorola, Inc. () was an American multinational telecommunications company based in Schaumburg, Illinois. It was founded by brothers Paul and Joseph Galvin in 1928 and had been named Motorola since 1947. Many of Motorola's products had been ...

and IT companies including

Cisco Cisco Systems, Inc. (using the trademark Cisco) is an American multinational digital communications technology conglomerate corporation headquartered in San Jose, California. Cisco develops, manufactures, and sells networking hardware, s ...

and

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

. As a member of the Board of Directors, Shahid was instrumental in using his banking resources to assist

in leapfrogging Mobilink as the operator with the highest number of postpaid customers in Pakistan. Shahid was also instrumental in bringing on board brand ambassadors that included big names in the music and film industry such as

Atif Aslam Atif Aslam (; born 12 March 1983) is a Pakistani playback singer, songwriter, composer, and actor. He has recorded many songs in both Pakistan and India, and is known for his Belting (music), vocal belting technique. Born in Wazirabad, Waziraba ...

and

Reema Khan Reema Khan () born Sameena Khan (), known mononymously as Reema, is a Pakistani television host and former stage dancer, Lollywood film actress, director, and producer. Khan was one of the leading film actresses in Pakistan during the 1990s. Sh ...

Wateen Telecom

In 2005, Wateen Telecom was launched by Abu Dhabi Group as a communication services provider. Shahid was a member of the Board of Directors until 2011. During his time at Wateen Telecom, Shahid played a pivotal role in deploying

's largest fibre optic network. Shahid also oversaw the largest countrywide roll-out of

WiMax Worldwide Interoperability for Microwave Access (WiMAX) is a family of wireless broadband communication standards based on the IEEE 802.16 set of standards, which provide physical layer (PHY) and media access control (MAC) options. The WiMA ...

in the world.

Other Abu Dhabi Group companies

Shahid served on the board of various Abu Dhabi Group companies that included Alfalah Insurance, Wincom, and Alfalah GHP Fund Management, an SECP-licensed asset management company.

Acquisition of United Bank Limited

Shahid is well known in the business circles of the region for having spearheaded the successful bid and acquisition of a 51% controlling interest in Pakistanʼs 3rd largest bank,

United Bank Limited United Bank Limited (often abbreviated as UBL) is a Pakistani bank headquartered at I.I. Chundrigar Road in Karachi. It is a subsidiary of British multinational conglomerate, Bestway Group. Founded by Agha Hasan Abedi in 1959, UBL saw its firs ...

, on behalf of a consortium consisting of

Bestway Group Bestway Group Limited is a British Conglomerate (company), conglomerate founded by Anwar Pervez, Sir Anwar Pervez in 1976. The group operates in the United Kingdom and Pakistan, and is currently based in London. The group originally began as B ...

and

-based investors in 2002. Shahid negotiated a brilliant deal with the Government of Pakistan whereby a 51% majority shareholding in the bank was acquired for a total consideration of US$205 Million. The current market capitalisation of

is over US$1 Billion.

Post retirement

Shahid is currently the chairman of ww.equityglobalgroup.com Equity Global a financial advisory firm based in

. As Chairman of Equity Global, and due to his strong network of relationships built over 40 years of financial sector experience in the region, he advises large corporations and ultra high-net-worth individuals on various investment banking and strategic private equity transactions.

Public service

Shahid has also served as a board member of the Punjab Board of Investment and Trade (PBIT). He currently serves on the board of the Rising Sun Institute for Special Children. In addition, he is a member of the alumni board of governors of F.C. College Lahore, of which he is also the honorary treasurer.

References

External links

Abu Dhabi Group in Pakistan
{{DEFAULTSORT:Shahid, Parvez 1948 births Pakistani bankers Pakistani Sunni Muslims Living people Pakistani financiers Businesspeople from Lahore Bank of Credit and Commerce International people