PSX appoints Nadeem Naqvi as interim CEO

MG News | August 29, 2024 at 01:50 PM GMT+05:00

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August 29, 2024 (MLN): Nadeem Naqvi, a Shareholder Director of Pakistan Stock Exchange Limited (PSX), has been appointed as the interim Chief Executive Officer (CEO) by the Board of Directors with the approval of the Securities and Exchange Commission of Pakistan.

Naqvi will assume office as Acting CEO from September 03, 2024, and continue in such role until a permanent CEO is appointed, or November 30, 2024, whichever is earlier.

The local bourse communicated this development through a notice issued today.

About Nadeem Naqvi

Nadeem Naqvi is the CEO of Habib University Foundation, Karachi.

He holds the degrees of MBA in Finance and B.Sc. with Honours in Banking and International Finance from the City University Business School in London, United Kingdom and completed his High School (GCE ALevels) from Dover College, Dover, England.

He has passed CFA Level II Exams. He brings with him over 40 years of work experience in global financial services, operating in diverse environments of North America, Europe and the Middle East, besides of Pakistan.

Naqvi was Managing Director of PSX from 2011 till 2017, when he took early retirement and resettled in Toronto, Canada.

During his tenure at PSX, he oversaw and guided massive transformation of the stock exchange and Pakistan’s Capital Market.

Some of his key accomplishments include

Implementing the demutualization of the stock exchange and integrating the Karachi, Lahore, and Islamabad stock exchanges to form the Pakistan Stock Exchange (PSX) as the single capital market in the country.
Launching an internet/wireless trading platform.
Advocating with MSCI and international portfolio investors for Pakistan's inclusion in the MSCI Emerging Market Index and successfully managing the process.
Playing a key role in the divestment of a 40% equity stake in PSX to institutional foreign investors.

Under his tenure, the revenue and profits of the Exchange grew from Rs692 million and Rs50m respectively in 2011, to Rs1.477 billion and Rs277m in 2017.

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