UAE lender Mashreq appointed Rajeev Bhatnagar as its group chief risk officer. He will lead the group’s risk-management function and work with the board risk committee, executive committee and business leaders. Bhatnagar confirmed that he had joined the bank after more than six years at BNY.
Bhatnagar most recently served as BNY’s chief risk and compliance officer for international operations. That role covered client activity across more than 100 countries. He previously held senior risk positions at Commonwealth Bank of Australia and Citigroup.
RISK OVERSIGHT GAINS NEW LEADERSHIP
Mashreq said Bhatnagar would focus on risk governance, risk culture and the bank’s management capabilities. The appointment places him in a senior control role as the lender pursues growth within its approved risk appetite.
The bank reported 26% annual growth in loans and advances and a 28% increase in customer deposits for the first half of 2026. Rapid balance-sheet expansion increases the importance of consistent credit, operational and compliance controls across the group.
IMPLEMENTATION FOLLOWS APPOINTMENT
Bhatnagar brings experience across banking groups with operations in multiple regulatory jurisdictions. Mashreq operates across the Middle East and maintains international businesses, making coordination of group risk standards a central part of the role.
The next test will be how the new risk chief translates the appointment into governance and control priorities across Mashreq’s businesses. Future financial and regulatory disclosures should provide evidence of any material changes to the bank’s risk framework.