The Pakistan Stock Exchange Limited (PSX) has announced the appointment of Mr. Nadeem Naqvi as its interim Chief Executive Officer (CEO), effective from 3rd September 2024. Mr. Naqvi, currently serving as a Shareholder Director of PSX, will assume the role following approval from the Securities and Exchange Commission of Pakistan (SECP). His appointment will remain in effect until a permanent CEO is appointed or until 30th November 2024, whichever comes first.
This leadership transition comes after the resignation of former CEO Farrukh Khan in July 2024, who stepped down to pursue other opportunities nearly a year and a half before the end of his tenure. Mr. Khan had joined PSX in February 2020, during the early stages of the COVID-19 pandemic in Pakistan.
Nadeem Naqvi brings a wealth of experience to his role at PSX. He is currently the CEO of the Habib University Foundation in Karachi and has over 40 years of global financial services experience across North America, Europe, the Middle East, and Pakistan. Mr. Naqvi holds an MBA in Finance and a B.Sc. with Honours in Banking and International Finance from City University Business School in London, and has successfully passed the CFA Level II exams.
Mr. Naqvi is no stranger to PSX, having previously served as its Managing Director from 2011 to 2017. During his tenure, he spearheaded significant reforms, including the demutualization of the exchange, the integration of the Karachi, Lahore, and Islamabad stock exchanges, and Pakistan’s inclusion in the MSCI Emerging Market Index. Under his leadership, PSX experienced substantial growth in both revenue and profits.
Before his tenure at PSX, Mr. Naqvi was the CEO of an asset management company and AKD Securities Ltd., where he transformed the firm into a leading investment banking and brokerage entity. He also chaired Pakistan’s first technology venture capital fund, TMT Ventures. His career has been marked by his expertise in economic and market analysis, having led Investology Inc., a top-ranked independent investment research firm in North America, and held senior research roles at Merrill Lynch Pakistan and Morgan Stanley Asset Management.
Mr. Naqvi has also played a pivotal role in key privatizations in Pakistan and has held various leadership positions, including Vice-Chairman of the South Asian Federation of Exchanges (SAFE) and directorships at multiple financial institutions.
His extensive background in finance, leadership, and strategic management positions him as a strong interim leader for PSX during this transitional period.