KARACHI: Badiuddin Akbar recently took charge as the CEO of the Central Depository Company of Pakistan (CDC) subsequent to formal approval by the Securities and Exchange Commission of Pakistan (SECP).
This key appointment has been made while taking into consideration that CDC is a key capital market institution and considered as the infrastructural backbone of the Pakistan capital market and is credited for the revolution that has brought transparency, credibility and efficiency to the market mechanisms.
As the only securities depository in the country, CDC is entrusted with maintaining book-entry securities worth trillions of rupees and manages a diversified portfolio of businesses including Trustee and Custodial Services and Share Registrar Services.
This is the third time in a row that the CEO of CDC has been selected from within its senior management. It is a testament of the company’s effective succession planning and also an expression of continued trust by the board of directors of the company on the senior management.
Akbar has 20 years of senior management experience in the fields of finance and operations in renowned conglomerates in Pakistan including Head of Finance and Company Secretary positions.
