The Pakistan Stock Exchange (PSX) has announced the appointment of Mr. Farrukh H. Sabzwari as its new Chief Executive Officer (CEO), effective November 18, 2024. The announcement was made earlier today in an official notice issued by PSX, signalling the start of a new leadership era for Pakistan’s premier financial market.
Mr. Sabzwari brings over 25 years of experience in senior management roles within the global and local investment banking sectors. He has served as CEO and Managing Director of KASB Securities, the local partner of BoA Merrill Lynch, as well as BMA Capital. His extensive experience includes his role as Country Head for CLSA Emerging Markets in Pakistan, where he led initiatives to advance the firm’s footprint in the region.
During his international career, Mr. Sabzwari held the position of Vice President of Sub-Continent Sales at CLSA Emerging Markets in New York, USA, and spent seven years with Credit Suisse in Indonesia and Singapore. There, he served as Director of Equities Sales, overseeing markets across the Asia-Pacific and Frontier Markets.
Mr. Sabzwari’s leadership background also includes significant regulatory experience in Pakistan. He served as Chairman and Commissioner of the Securities and Exchange Commission of Pakistan (SECP) from 2018 to 2021, a position he assumed upon returning to Pakistan.
Currently, Mr. Sabzwari is associated with Hugobank, a Getz Group entity, as a proposed Director on its board. Hugobank is among the five digital banking consortiums that received licences from the State Bank of Pakistan (SBP) in January 2023, marking a significant milestone in Pakistan’s financial sector evolution.
His appointment at PSX is widely anticipated to drive strategic growth and enhance market efficiency, leveraging his extensive expertise in both global financial markets and regulatory affairs.
