Farrukh Sabzwari Appointed CEO of Pakistan Stock Exchange for a Three-Year Term

The Pakistan Stock Exchange (PSX) has officially announced the appointment of Farrukh H. Sabzwari as its new CEO, effective November 18, 2024. This decision, approved by the Securities and Exchange Commission of Pakistan (SECP), was shared with stakeholders on Tuesday in an official notice.

Sabzwari’s selection followed an extensive process led by the PSX Board of Directors, resulting in his three-year tenure under the Securities Exchanges (Licensing and Operations) Regulations, 2016. This appointment marks a significant transition for the PSX as Sabzwari brings over 25 years of investment banking expertise to the role, having held senior management positions within Pakistan and abroad.

Farrukh Sabzwari’s Journey and Contributions to the Financial Sector

As a former SECP chairman, Sabzwari has deep-rooted insights into Pakistan’s financial landscape. His career has spanned diverse roles, including his tenure as CEO and MD at KASB Securities, where he represented Merrill Lynch’s interests locally. Additionally, he served as Country Head for CLSA Emerging Markets in Pakistan, and as a senior executive at BMA Capital, where he gained valuable experience in managing high-profile investment portfolios and fostering international partnerships.

Sabzwari’s arrival at PSX follows the recent resignation of Farrukh H. Khan, who left the CEO position in July to pursue new opportunities before his term was complete. In response, the PSX Board of Directors appointed Nadeem Naqvi as interim CEO in August, bridging the leadership gap while they finalized the selection process.

Sabzwari’s expertise is expected to enhance PSX’s role as a key player in the national and regional financial ecosystem, building on previous efforts to foster transparency, increase investor participation, and advance digital innovation in Pakistan’s stock market.