Farrukh H. Sabzwari appointed as CEO of Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) has announced the appointment of Mr. Farrukh H. Sabzwari as its new Chief Executive Officer (CEO), following approval from the Securities and Exchange Commission of Pakistan (SECP). 

The PSX Board of Directors recommended Mr. Sabzwari’s appointment for a three-year term under the Securities Exchanges (Licensing and Operations) Regulations, 2016.

According to an official communication issued on Tuesday, Mr. Sabzwari will assume his responsibilities as CEO on November 18, 2024. This announcement follows an earlier notice from PSX on August 29, 2024, regarding the decision to bring Mr. Sabzwari on board as the exchange’s CEO.

Mr. Sabzwari has over 25 years of experience in investment banking, holding senior management positions both domestically and internationally. 

He has previously served as CEO and Managing Director of KASB Securities, BMA Capital, and as Country Head for CLSA Emerging Markets in Pakistan.

His international experience includes roles at CLSA Emerging Markets in New York, where he was Vice President of sub-continent sales, and at Credit Suisse in Indonesia and Singapore. 

Mr. Sabzwari also served as Chairman (Dec 2018 – Aug 2019) and Commissioner of the Securities and Exchange Commission of Pakistan (SECP) from 2018 to 2021, a position he assumed upon returning to Pakistan. 

He holds capital market certifications from jurisdictions including Singapore, Indonesia, and New York. An alumnus of the IBA in Karachi, he earned his MBA in December 1992.

In July, it was announced that Farrukh H. Khan had resigned as CEO of PSX to “pursue other opportunities,” nearly a year and a half before the end of his tenure. Later, it was revealed that he would join telecom operator Jazz as Chief Financial Officer (CFO). 

Following Khan’s resignation, the PSX Board of Directors appointed Nadeem Naqvi, a Shareholder Director, as interim CEO in August.