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HomeNEWSBanking & FinanceUBL appoints Muhammad Jawaid Iqbal as President, CEO

UBL appoints Muhammad Jawaid Iqbal as President, CEO

The Board of Directors of United Bank Limited (UBL) appointed Muhammad Jawaid Iqbal as resident and CEO for a term of three years.

The appointment comes upon the completion of Shazad G. Dada’s three years term, who will be stepping down “for personal reasons”, the bank said in its filing to the Pakistan Stock Exchange (PSX) on Monday.

“The Board of Directors appreciated Shazad G. Dada for his invaluable contributions, leading the bank towards achieving excellent growth and financial results… He has been a driving force behind many of the initiatives and projects that have brought the Bank to where it is today,” read the statement.

The bank said that Iqbal will be joining UBL upon completion of regulatory requirements.

As per information provided by UBL, Iqbal has been a member of the Board of Directors of UBL since December 14, 2022. “He is the chairman of Board Risk & Compliance Committee (BRCC) and a member of Board Human Resource & Compensation Committee (HRCC),” said the bank.

Iqbal is the founder of Providus Capital (Private) Limited — an investment firm established in 2017, which primarily invests into public equity markets of Pakistan.

He has over two decades of banking experience and has worked with Emirates Bank International PJSC Pakistan, National Bank of Pakistan and Allied Bank Limited at senior managerial positions.

He did his Master in Business Administration from Bahauddin Zakariya University, Pakistan and his Chartered Financial Analyst (CFA) from the CFA Institute in the US. He has also completed an Advanced Management Program from Harvard Business School, US.

Meanwhile, UBL’s board has appointed Zia Ijaz as Deputy Chief Executive Officer of the bank with immediate effect.

Ijaz has been associated with UBL since 2014 and successfully managed branch banking and international business.

“He played a key role in building scale and growth in commercial and retail banking; home remittance business, and SME and rural banking. A number of innovative products and services were launched under his lead that helped the bank in delivering exceptional results,” the bank said.

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