Lawmaker Morshed Alam has been elected chairman of Mercantile Bank. 

The election took place at the 345th board meeting, the bank said in a statement yesterday.

Alam is the founder chairman of the Bengal Group of Industries, chairman of private satellite television channel RTV and a former chairman of National Life Insurance Company.

He is also involved in different sectors, including financial services, export-oriented textile and apparel industry, real estate and construction materials, hotel and resorts.

Alam is a member of the trustee board of the Peoples University of Bangladesh. He was elected a member of parliament from Noakhali-2 (Senbag-Sonaimuri) at the 10th and 11th national elections.