Karl Stumke appointed as BML's new MD & CEO

Bank of Maldives has appointed Karl Stumke as its managing director and CEO.

According to the Privatization and Corporatisation Board, Karl has been appointed to the board as its managing director yesterday.

Karl according to the bank, has 36 years of experience. He has worked for a long time at the executive level of banks in the Middle East, Africa, the Indian Ocean and the UK.

Tim Sawyer , the former CEO of the bank, stepped down after consulting the bank's board not to renew his contract after his contract with the company expired. When Tim stepped down, the bank was run by its deputy CEO Aishath Nooradeen.