Pakistan Stock Exchange (PSX) Managing Director and Chief Executive Officer Richard Morin resigned on Tuesday from his post.

Morin tendered his resignation which was accepted by the board of directors of the company with immediate effect during a meeting today. According to local media reports, earlier this month Morin was served a show-cause notice over his involvement in a wealth management company.

In 2018, during the tenure of Pakistan Muslim League - Nawaz, Morin joined the PSX as the first-ever non-Pakistani chief executive officer of the market. Morin has earned a Bachelor’s degree in Economics from the University of Montreal and an MBA from McGill University.