Farrukh H. Khan, who recently stepped down as CEO and Managing Director of the Pakistan Stock Exchange (PSX), is slated to assume the role of Chief Financial Officer (CFO) at Jazz, Pakistan’s leading telecom operator, effective September 15th, 2024, sources revealed on Monday.
Describing Farrukh as a seasoned professional with over three decades of leadership experience in prominent financial institutions, the source highlighted his notable roles including CEO of Acumen Fund, co-founder and CEO of BMA Capital Management, and CFO at American Express.
Last week, PSX announced Farrukh Khan’s resignation from the CEO position ahead of schedule, citing his decision to explore new opportunities.
During his tenure at PSX, which commenced amidst the Covid-19 outbreak in February 2020, Farrukh Khan oversaw significant milestones including the reactivation of the IPO window after an 18-month hiatus, the introduction of the Growth Enterprise Market (GEM) Board, and the activation of debt market makers.
Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Microfinance Bank Limited (MMBL), confirmed Farrukh Khan’s appointment, emphasizing his invaluable expertise in capital markets as Jazz expands its footprint into various sectors such as financial services, software development, data centers, cloud solutions, and entertainment.
“We are pleased to welcome Farrukh Khan to our leadership team. His deep knowledge and leadership in capital markets will be instrumental as we advance our vision of becoming a ServiceCo,” Aamir Ibrahim remarked.
Jazz aims for substantial growth, targeting a projected compound annual growth rate of over 20% and aiming to double its revenue by 2027. Key drivers include ventures like the fintech platform JazzCash, cloud offering Garaj, and the digital streaming service Tamasha, according to a company statement.
