Muhammad Aurangzeb, picked by Prime Minister Shehbaz Sharif to be Pakistan's finance minister, is a vastly experienced private banker who is one of the most highly paid executives in the country, but has never held public office before. The chief executive officer and president of Pakistan's largest bank, HBL, Aurangzeb was picked over several veterans previously involved in handling the troubled $350 billion economy, including Ishaq Dar, who has been finance minister in four previous administrations. HBL confirmed his resignation shortly after he took the oath of office. "Aurangzeb now embarks on a new chapter of service to the nation, underscoring a commitment to national responsibility," said HBL Chairman Sultan Ali Allana. He led HBL to a record profit in 2023, at $407 million, a 47% jump from the previous year, as well as a turnaround in its international businesses, according to the bank's financial statement.