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22 Feb. 2021


The Board of Directors of AfrAsia Bank has announced today that Sanjiv Bhasin will be retiring from his position as Chief Executive Officer on the 28 February 2021 after a successful and productive five and a half years.

This decision has been made following a request from Sanjiv to take his accumulated accrued holidays, hence leaving the Bank before his contract date which is due on 30 June 2021.



The Board has started the process of identifying his successor through the appointment of a reputable international recruitment agency. During this transition period, the Board has nominated Thierry Vallet to assume the role of interim CEO as he has served in this position before. The appointment is subject to regulatory approval. Thierry, who is a founder executive of the Bank and presently serves as General Manager, brings a track record of strong client relationships and deep expertise in banking and investments.



The Board of Directors would like to thank Sanjiv for his personal commitment, strong leadership, dedication and the significant contribution that he has made during his tenure at the Bank. The growth trajectory of AfrAsia and its current resilience to economic challenges particularly reflect his accomplishments. The Board wishes Sanjiv and his family all success as he pursues new adventures. 



By Order of the Board

22 February 2021