The Board of Directors United Bank Limited (UBL) on Monday announced the appointment of Sima Kamil as new Chief Executive Officer (CEO) of UBL. She will perform her duties as deputy CEO of the bank until May 31, a notice of the bank received by Pakistan stock Exchange (PSX) said.
In this connection, the UBL has submitted a letter to the State Bank of Pakistan (SBP) for its final approval.
The letter said that the board meeting of the Bank held on 24 March 2017, regretted a note that Mr Wajahat Husain, president and CEO UBL is not seeking extension in his contract for personal reasons. The Board recognised and appreciated efforts of Mr Husain as an effective leader during Mr Husain’s tenure, the letter said.
It further said that UBL recorded unprecedented growth in financial results and has been a recipient of several prestigious awards and accolades. The board noted that during the tenure of Mr Husain the bank was rated ‘Best Bank’ and won the inaugural Pakistan Banking Award in 2016. The entity rating of the bank also improved to AAA (Triple A). The board placed on record the meritorious services rendered by Mr Husain and wished him good luck in his future endeavours.
In view of the above, the Board members of UBL in the said meeting accorded its approval for the appointment of Ms. Sima Kamil as the President and CEO of UBL with effect from June 1, 2017.
Ms. Sima Kamil is currently serving as Deputy CEO of UBL and will be assuming the position of President and CEO of UBL following expiry of tenure of contract of the existing president and CEO Mr Wajahat Husain (which expires on May 31 2017) subject to SBP’s fit and proper tests clearance.
The Board members expressed good wishes to Ms. Sima Kamil and welcome her to the UBL family.