In a latest corporate development, a seasoned banker and capital market professional, Shazad Dada has been appointed as the President and Chief Executive Officer (CEO) of United Bank Limited (UBL) with effect from July 1, 2020 for a period of three years. He is currently the CEO of Standard Chartered Bank (Pakistan) Limited, a position he assumed in October 2014.
Dada has around 30 years of diverse experience with renowned financial institutions in the United States and in Pakistan. He has been at the helm of several landmark deals executed on behalf of Government of Pakistan, including Ministry of Finance, and large corporate clients.
An honours graduate from University of Pennsylvania with Bachelors of Science and Bachelors of Arts degrees, Dada did his MBA from the Wharton Business School. Throughout his professional life he has worked with international banks, starting with Deutsche Bank Securities Inc in New York where he worked for over 15 years in various capacities; last as the Managing Director in the Mergers, Acquisitions, and Corporate Advisory Group before moving back to Pakistan as the Managing Director for Deutsche Bank AG Pakistan.
After resigning from Deutsche Bank AG Pakistan in September 2010, Dada became the CEO of Barclays Bank Plc, Pakistan where he focused on making it a "solutions-oriented, client-centric bank" aiming at 50-50 balance in terms of income generation from interest and fee-based income.
In October 2014, Dada moved to Standard Chartered Bank (SCB) as its CEO which has grown substantially since then. In 2019, the SCB attained 3rd position in terms of profitability within the country's banking sector, posting record profits for the franchise since incorporation. During his tenure at the SCB, the bank increased its total assets, net loans and deposits by over 50 percent while undertaking branch optimisation and growing the bank's digital presence.
UBL would be Dada's first stint at a Pakistani bank, and the market expects him to further UBL's growing interest towards automation, where Dada's zeal and experience in offering speed, convenience, service and cost efficiency to young banking consumers would likely prove useful.
In a number of interviews, Dada has been vocal about Pakistan's informal economy, and poor mortgage market. In the wake of the government's focus on construction industry and SME finance, he is expected to increase UBL's footprint in the SME and mortgage sector, whereas his prior roles as Chairman of Pakistan Mercantile Exchange, Chairman Pakistan Banks Association, and President of Overseas Investors Chamber of Commerce and Industry can help UBL carve a niche for itself at home and abroad through its overseas branches.
But Dada is not all work and no play. He is an avid golfer with a keen interest in a number of sports including tennis and chess. He has also been associated with various reputed charitable organisations, and has been advancing diversity and inclusion within the corporate world. In 2019 he was named No 6 on the Financial Times' HERoes Women Role Model Lists of female advocates globally, the first such recognition from Pakistan.
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