The Pakistan Stock Exchange Limited (PSX) has appointed Mr Nadeem Naqvi as its interim Chief Executive Officer (CEO).Â
According to a PSX notice, Mr Naqvi, who is a Shareholder Director of the stock exchange, will assume the role of Acting CEO starting from September 3, 2024.
This appointment follows approval from the Securities and Exchange Commission of Pakistan (SECP) and will be in effect until a permanent CEO is appointed or until November 30, 2024, whichever comes first.
It is better to recall that PSX’s former CEO Farrukh Khan resigned in July 2024 to pursue other opportunities, almost a year and a half before his tenure was due to end. Khan had joined PSX in February 2020, just as the Covid-19 pandemic began to spread in Pakistan.
Who is Nadeem Naqvi?Â
Accoridng to the PSX website, Nadeem Naqvi is the CEO of Habib University Foundation, Karachi, with over 40 years of experience in global financial services across North America, Europe, the Middle East, and Pakistan. He holds an MBA in Finance and a B.Sc. with Honours in Banking and International Finance from City University Business School in London, and has passed the CFA Level II exams.
From 2011 to 2017, Mr. Naqvi served as Managing Director of the Pakistan Stock Exchange (PSX), where he led major reforms, including the demutualization of the exchange, the integration of the Karachi, Lahore, and Islamabad stock exchanges, and Pakistan’s inclusion in the MSCI Emerging Market Index. Under his leadership, PSX’s revenue and profits saw substantial growth.
Before PSX, Mr. Naqvi was CEO of an asset management company and AKD Securities Ltd., where he transformed the firm into a leading investment banking and brokerage entity. He also chaired Pakistan’s first technology venture capital fund, TMT Ventures.
His career has been marked by expertise in economic and market analysis, having led Investology Inc., a top-ranked independent investment research firm in North America, and held senior research roles at Merrill Lynch Pakistan and Morgan Stanley Asset Management. Mr. Naqvi has been involved in key privatizations in Pakistan and has held various leadership positions, including Vice-Chairman of the South Asian Federation of Exchanges (SAFE) and directorships at multiple financial institutions.
