PSX appoints Nadeem Naqvi as interim CEO

The Board of Directors (BoD) of Pakistan Stock Exchange Limited (PSX) has appointed Nadeem Naqvi, a Shareholder Director, as the interim Chief Executive Officer (CEO) of the company.

The company, engaged in conducting, regulating and controlling the trade in shares, shared the development to the exchange on Thursday.

“Please be informed that Nadeem Naqvi, a Shareholder Director of Pakistan Stock Exchange Limited (PSX), has been appointed as the interim Chief Executive Officer (CEO) by the Board of Directors with approval of the Securities and Exchange Commission of Pakistan,” the PSX informed its stakeholders in a notice.

“Naqvi will assume office as Acting CEO from September 03, 2024, and continue in such role until a permanent CEO is appointed, or November 30, 2024, whichever is earlier,” added the notice.

As per details available on the PSX website, Naqvi is currently the CEO of Habib University Foundation, Karachi.

He was Managing Director of PSX from 2011 till 2017, when he took early retirement and resettled in Toronto, Canada.

Back in July, it was announced that Farrukh Khan resigned from the position of CEO of PSX to “pursue other opportunities”, nearly a year and a half before his tenure was set to end.

Farrukh Khan joined PSX in February 2020 at the time when Covid outbreak took place in Pakistan.

Later on, it was learnt that Farrukh would join telecom operator Jazz as its Chief Financial Officer (CFO),

Farrukh will join the telecom operator with effect from September 15th, 2024, sources confirmed to Business Recorder back then.

“Farrukh brings with him an impressive track record with over 30 years of experience at the helm of major financial institutions,” the source added.