The Securities and Exchange Commission of Pakistan (SECP) has confirmed the appointment of Farrukh H. Sabzwari as the new Chief Executive Officer (CEO) of the Pakistan Stock Exchange Limited (PSX). His three-year term will commence on November 18, 2024.
Farrukh H. Sabzwari brings over 25 years of extensive experience in investment banking and capital markets to his new role. His career includes serving as CEO and Managing Director of KASB Securities and as Country Head for CLSA Emerging Markets in Pakistan. He has also held senior positions with CLSA in New York and Credit Suisse in Indonesia and Singapore, focusing on the Asia-Pacific (APAC) and Frontier Markets.
Sabzwari’s tenure as SECP Commissioner from 2018 to 2021 was marked by significant initiatives, including the introduction of enhanced Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols in alignment with Financial Action Task Force (FATF) standards. He also launched Exchange-Traded Funds (ETFs), revamped Real Estate Investment Trust (REIT) regulations, and developed Emlaak, a mutual fund investment portal. His governance contributions include establishing stewardship guidelines for institutional investors.
In addition to his executive roles, Sabzwari has held advisory positions, including a directorship on the board of Hugobank and a co-opted membership with the Capital Markets Advisory Council.
