Pakistan Stock Exchange Names Farrukh Sabzwari as New CEO to Drive Strategic Growth
The Pakistan Stock Exchange (PSX) announced Farrukh H. Sabzwari as its new Chief Executive Officer (CEO), marking a pivotal leadership transition for Pakistan’s premier stock exchange. Approved by the Securities and Exchange Commission of Pakistan (SECP), Sabzwari’s three-year appointment is effective from November 18, 2024.
In a notice issued Tuesday, PSX confirmed that Sabzwari’s selection followed an earlier board recommendation on August 29, underscoring his vast experience in the finance sector and his role as a previous SECP chairman. With a distinguished 25-year career in investment banking, Sabzwari is poised to lead PSX toward greater regional and global integration.
A Deep Dive into Farrukh Sabzwari’s Career and Vision for PSX
Known for his financial acumen and leadership, Sabzwari’s career includes high-ranking roles as CEO and Managing Director at KASB Securities, where he represented Merrill Lynch locally. His track record includes senior positions with CLSA Emerging Markets and BMA Capital, where he cultivated connections across investment platforms in Pakistan and beyond. His experience spans strategic oversight, asset management, and fostering investor relations, all vital skills for the evolving demands of the PSX.
This appointment follows Farrukh H. Khan’s departure as PSX CEO in July, when he stepped down nearly 18 months before his contract ended. Nadeem Naqvi, a member of the PSX Board, stepped in as interim CEO in August, maintaining operational continuity until a permanent replacement was identified.
With Sabzwari at the helm, PSX is anticipated to undergo key reforms and further its mission of aligning Pakistan’s stock market with global standards, bolstering digitalization, and facilitating investment opportunities. Sabzwari’s background in policy and market operations positions him uniquely to steer PSX into a future of innovation and sustained growth.
