KARACHI: United Bank Limited said on Monday it has appointed Muhammad Jawaid Iqbal as president and the chief executive officer of the bank for a term of three years, a bourse filing said.
“Mr. Shazad G Dada, upon completion of his 03 years term, will be stepping down from the office of President & CEO of UBL for personal reasons,” the bank said in its filing to the Pakistan Stock Exchange.
The Board of Directors appreciated Shazad G. Dada for his invaluable contributions, leading the bank towards achieving excellent growth and financial results, it said. During his tenure, UBL surpassed many milestones and won prestigious industry awards. He has been a driving force behind many of the initiatives and projects that have brought the bank to where it is today, it added.
“In view of the above, the Board of Directors has decided to appoint Mr. Muhammad Jawaid Iqbal as President & CEO of UBL for a term of 03 years subject to the approval of State Bank of Pakistan and compliance with all applicable laws, rules, and regulations in this regard,” it added.
According to data UBL has posted on its website, Iqbal is a member of the Board of Directors of UBL since December 14, 2022. He is the Chairman of the Board Risk & Compliance Committee (BRCC) and a member of the Board Human Resource & Compensation Committee (HRCC).
He is the founder of Providus Capital (Private) Limited—an investment firm established in 2017. Providus Capital primarily invests in the public equity markets of Pakistan. Iqbal has over two decades of banking experience and has worked with Emirates Bank International PJSC Pakistan, National Bank of Pakistan, and Allied Bank Limited in senior managerial positions. He did his Master’s in Business Administration from Bahauddin Zakariya University, Pakistan; Chartered Financial Analyst (CFA) from CFA Institute, USA; and Advanced Management Program from Harvard Business School, USA.
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