PSX Appoints Farrukh H. Sabzwari as New CEO, Effective November 18

Sabzwari brings over 25 years of experience in

senior management roles within the investment

banking sector, both locally and internationally

Staff Reporter

Karachi: The Pakistan Stock Exchange (PSX) has announced the appointment of Mr. Farrukh H. Sabzwari as its new Chief Executive Officer (CEO), with the official start date set for November 18, 2024. This decision was communicated earlier today through an official PSX notice.

Farrukh H. Sabzwari’s Extensive Financial Sector Background

Mr. Sabzwari brings over 25 years of experience in senior management roles within the investment banking sector, both locally and internationally. He previously served as CEO and Managing Director of KASB Securities, BMA Capital, and as the Country Head for CLSA Emerging Markets in Pakistan. His international career includes roles as VP of Sub-Continent Sales at CLSA Emerging Markets in New York, as well as Director of Equities Sales for APAC and Frontier Markets at Credit Suisse in Indonesia and Singapore.

From December 2018 to August 2019, Mr. Sabzwari was the Chairman of the Securities and Exchange Commission of Pakistan (SECP) and served as its Commissioner until 2021. More recently, he was proposed as a director on the board of Hugobank, a Getz Group entity that was awarded a digital banking license by the State Bank of Pakistan in January 2023. Mr. Sabzwari also holds a position as a co-opted member of the Capital Markets Advisory Council (CMAC), established in November 2023.

Qualifications and Certifications

Mr. Sabzwari holds certifications in capital markets from Singapore, Indonesia, and New York. An alumnus of the Institute of Business Administration (IBA) Karachi, he graduated with an MBA in December 1992.

PSX anticipates that Mr. Sabzwari’s extensive expertise will contribute to strengthening Pakistan’s capital markets and driving the exchange’s growth and development in the coming years.