KARACHI: Shazad G Dada has been appointed as President and Chief Executive Officer (CEO)of United Bank limited with effect from July 1, 2020, informed the bank in a statement to the Pakistan Stock Exchange on Thursday.
The statement further said that the Board of Directors of UBL in its meeting, held on May 6, 2020 through video conference call decided to appoint Shazad G Dada as President and CEO of UBL with effect from July 1, 2020 for a term of three years.
According to the statement, Dada’s appointment is subject to the approval of the State Bank of Pakistan (SBP) and compliance with all applicable laws, rules, and regulations in this regard.
The Board while acknowledging services of outgoing president and CEO Sima Kamla, has further decided that Ms Kamil who is completing her 3 years term on May 31, 2020 will continue to perform as President and CEO till June 30, 2020, the statement added.
Earlier, Shazad stepped down as President and Chief Executive Officer (CEO) of the Standard Chartered Bank Pakistan (SCBPL). The SCBPL announced on Wednesday that Dada had decided to step down from the CEO office. The Board of Directors of SCBPL had accepted the resignation of Dada with effect from July 1, 2020.