Sulaiman S Mehdi takes the helm as chairman of SLIC

August 17, 2023 (MLN): Sulaiman S Mehdi has been appointed as the Chairman of the Board of Directors (BoD) of the State Life Insurance Corporation of Pakistan (SLIC), said a notification issued by the Ministry of Commerce. 

The present Chairman, Shoaib Javed Hussain will continue as the Chief Executive Officer (CEO) of SLIC.

Sulaiman has over 13 years experience of working with leading Financial Services Groups in senior positions in the area of operations, investments, marketing, legal and corporate affairs.

He holds a Master’s degree and is also a Fellow member of the Institute of Corporate Secretaries of Pakistan (FCISP).

He served as the chairman of the Pakistan Stock Exchange from July 2018 to April 2021.

He started his career with Pakistan Industrial Credit and Investment Corporation Limited (PICIC-DFI) in July 2001 as a Management Trainee (OG-II) and was there till June 30, 2004, in the capacity of Manager of Corporate Affairs.

He joined Central Insurance (CICL) as the COO & CS on October 01, 2010, and led the insurance license revocation process. The revocation of its license and its business restructuring from CICL to Cyan is a landmark transaction and the first of its kind in Pakistan. He has been made the CEO of Cyan with effect from August 26, 2014. He is also Chairman of Pebbles Limited.

Before Cyan, he served as the COO and CS  for Allied Bank Limited (PSX: ABL) Asset Management Company Limited from January 01, 2008, to September 30, 2010.

Before ABL AMCL he was also associated with ABL Corporate & Investment Banking (CIBG) as SVP from June 2007 till December 31, 2008, and was primarily responsible for the formation of ABL Asset Management Company Limited.

Sulaiman has also served as the COO and CS of Pakistan Industrial Credit and Investment Corporation (PICIC) Asset Management Company Ltd and was primarily responsible for the formation of PICIC AMC.

Amongst Sulaiman’s nascent achievements is the $60 million acquisition of Hub Power Company Limited (HUBC) by Dawood Hercules Group which was championed from Cyan’s platform on June 13, 2012.

As Fund Manager for Cyan’s listed equities portfolio, Cyan’s portfolio increased by 56% versus 49% of the KSE-100 Index in 2012.

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