Pakistan Stock Exchange today informed the exchange that Mr. Richard Morin has been appointed as Chief Executive Officer (CEO) of PSX. The appointment was made after necessary approvals from the Securities and Exchange Commission of Pakistan.

Previously, Mr. Morin was the Chief Executive at the Stock Exchange of Mauritius. He was also employed at Montreal Exchange for ten years.

Mr. Richard will assume his charge from today onwards, in place of Mr. Haroon Askari who was the acting CEO until Mr. Morin’s appointment.

Mr. Morin has vast years of experience in financial markets in Canada and abroad. He received a B.Sc. degree in Economics from the University of Montreal in 1982 and an M.B.A. degree from McGill University in 1988.

The appointment was a very big controversy as some local opposition claimed the perks and benefits for the foreign hired CEO to be too much.

This is the first ever appointment of a non-Pakistani as Managing Director.