Pakistan-based United Bank Ltd. appointed Sima Kamil as president and CEO, replacing Wajahat Husain.

Kamil, who is currently deputy CEO of the bank, will assume the roles June 1, United Bank said in a March 27 release.

Husain is not seeking an extension in his contract due to personal reasons and will step down as president and CEO effective May 31.

Earlier in March, the bank had denied rumors that its president and 300 employees were fired on the direction of the country's central bank.