Nadeem likely to take over as KSE managing director on May 15

Nadeem Naqvi is likely to take over as Managing Director of Karachi Stock Exchange (KSE) on May 15, 2011, it is learnt. The KSE Board of Directors in its meeting on Monday had approved the appointment of Nadeem Naqvi as managing director and sent its recommendations to the Securities and Exchange Commission of Pakistan (SECP) for approval.
Nadeem has also accepted the KSE offer to serve as managing director of the exchange. "Nadeem Naqvi, who is in London, is expected to return to Pakistan early next month and would take over as new managing director of the country's premier exchange on May 15, 2011 after completion of all related formalities", sources said. The post of MD of Karachi Stock Exchange was vacant since Adnan Afridi resigned. Haroon Askari has been performing duties as acting managing director of the exchange.