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Dr. Shamshad Akhtar, an economist, has had broad based development experience...
Mr. Farrukh Khan is the Chief Executive Officer (CEO) of Pakistan Stock Excha...
Mr. Ahmed Chinoy is an elected Director on the Board of Pakistan Stock Exchan...
Mr. You Hang is serving as Non-Executive Director on the Board of Pakistan St...
Dr. FU Hao is serving as Non-Executive Director on the Board of Pakistan Stoc...
Ms. Yu Huali is serving as Non-Executive Director on the Board of Pakistan St...
Mr. Jiang Ketao is serving as Non-Executive Director on the Board of Pakistan...
Mr. Kureishi is a career Banker with a rich and diverse experience of more th...
Mr. Mohammad Salahuddin Manzoor is a seasoned financial market professional w...
Mr. Nadeem Naqvi is the President/CEO of Capital Markets International Adviso...
Mr. Zubair Razzak Palwala was born in March 1964 at Karachi. He completed his...
Dr. Shamshad Akhtar, an economist, has had broad based development experience and held a range of senior positions at the national and multilateral organizations.
She served as the Care-Taker Finance Minister of Pakistan holding multiple economic portfolios in the caretaker government and as the Governor, State Bank of Pakistan. As the Under-Secretary General of the Economic and Social Commission of the Asia and Pacific (UNESCAP) and the UN Secretary General’s Senior Special Advisor on Economics and Finance, she oversaw the development and implementation of the 2030 sustainable development, finance and climate agenda. For five years, she was UN Secretary General’s Sherpa for Development and the Finance and Central Bank tracks.
Dr. Akhtar served as the Vice President, Middle East and North Africa at the World Bank, and the Director General of Asian Development Bank (ADB). She also served as the Special Sr. Advisor to the President of ADB.
Dr. Akhtar has doctorate, and a post-doctorate degree in economics from University of Harvard.
Presently, she is a member of the PM Economic Advisory Council; the Chairperson of the Boards of the Pakistan Stock Exchange Limited, the Pakistan Institute of Corporate Governance, Karandaaz (the DFID-Bill Melinda and Gates Foundation, a joint venture to promote financial and digital financial inclusion) and the Sui Southern Gas Company Limited; and an Independent Director on the Board of Engro Fertilizers Limited. She is a member of advisory board of Sustainable Finance Center (SOAS) in UK. She remains engaged in both global and national policy dialogues and is the Global Advisor for the Belt and Road Initiative and Policy Sherpa for Boao Asia Forum and Advisor to Shanghai Forum.
Mr. Farrukh Khan is the Chief Executive Officer (CEO) of Pakistan Stock Exchange Limited (PSX). He qualified as a Chartered Accountant from the Institute of Chartered Accountants in England and Wales, United Kingdom (UK), and also holds a BA (Hons.) in Economics and Finance from the University of Manchester.
With over 30 years of senior management and board-level experience, Farrukh is an experienced entrepreneur, and leading business and financial advisor who has advised on many landmark transactions. Previously he has held senior positions with Acumen in Pakistan & the UK, including Country Director & CEO, Pakistan, Senior Director Business Development, Chief Business Development Officer and member of the Management Committee. Mr. Khan was the founding partner and CEO of BMA Capital Management Limited. Under his stewardship, BMA established itself as the leading investment banking group in Pakistan and received several international awards, including the 2010 Euromoney award for the best investment bank in Pakistan. His experience includes lead managing the US$813 million GDR offering and London listing of OGDCL, Pakistan’s largest listed company, and successfully advising Etisalat on their $2.6 billion acquisition of Pak telecom, the largest mergers and acquisition transaction and the largest foreign direct investment in Pakistan’s history. Other historical transactions include the US$ 1.5 billion privatisation of Kot Addu Power Company and the US$898 million GDR offering for Pak Telecom. He has advised, either on the buy or sell side, on almost 50% of all successful privatisations in Pakistan, totaling over $4 billion in value. He has also worked with American Express Bank in Pakistan and Deloitte in London.
Mr. Khan has an excellent network and deep knowledge of global business and investments. He has previously served as President of Overseas Investors Chamber of Commerce & Industry (OICCI), Chairman of the Young Presidents’ Organization, Pakistan Chapter and on the boards of prominent public and private sector organisations. He was also associated with the Securities and Exchange Commission of Pakistan as a member of its Policy Board from 2018 to 2019. Mr. Khan was selected by Euromoney as one of the top 50 global financial leaders, below the age of 40 years. His philanthropic interests include children’s health and education.
Other Directorships/Offices:
Mr. Ahmed Chinoy is an elected Director on the Board of Pakistan Stock Exchange Limited (PSX). He is the Managing Partner of Arch Sons Group of Companies and is engaged in overseeing various businesses such as security investments, textiles, real estate and poultry farming.
Mr. Chinoy is qualified from Institute of Cost & Management Accountants of Pakistan (ICMAP) and holds a graduate degree in Commerce from University of Karachi. He is also a certified director from Pakistan Institute of Corporate Governance.
Mr. Chinoy is a prominent business and social figure in Pakistan. He has served the society in different capacities in the areas of business, education, health, crime prevention and other social services and has rendered invaluable services to the nation in these fields. He has successfully served as Chief of Citizen Police Liaison Committee, Sindh (a citizens’ body for prevention of crimes) from the year 2010 to 2015. He has also been actively serving on the Boards of various hospitals and educational institutions and has been heading the Memon Community as the President of All Pakistan Memon Federation. Previously, he has served on the Managing Committee of Federation of Pakistan Chamber of Commerce & Industry for many years and has also remained as Chairman of Pakistan Cloth Merchants’ Association (the apex body of textile exporters). For his services to the people of Pakistan, he has been awarded prestigious national awards of Hilal-e-Imtiaz (H.I.) and Sitara-e-Imtiaz (S.I.)..
Mr. Chinoy is nominated by PSX to serve as Director on the Boards of Central Depository Company of Pakistan Limited, National Clearing Company of Pakistan Limited and Pakistan Mercantile Exchange Limited.
Other Directorships/Offices:
Mr. You Hang is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX), being a nominee of China Financial Futures Exchange (CFFEX).
Mr. You, being one of the inaugurators of CFFEX, is currently serving as the Chief Representative of CFFEX in Pakistan. He also held the position of Deputy Managing Director of PSX from August 2017 to August 2018. He is a seasoned expert who has strategically fulfilled the responsibility of domestic and international financials, marketing and operational functions. He is specialized in Exchange operations, designing/management of financial derivatives as well as data marketing. He has solid experience in equity, fixed income, and FX derivatives and possess strong quantitative and analytical skills. He also has a diplomat experience with superior communication, organizational and interpersonal skills with fluency in English as well as in his mother tongue Mandarin.
Mr. You Hang has completed his Master of Public Policy concentrated in Finance on Dean’s Fellowship from The University of Chicago, USA and Bachelor of Engineering from East China University of Technology, Shanghai, from where he graduated with honors.
Mr. You Hang is currently associated with CFFEX for last 14 years and has served it in the capacity of Chief Representative in Pakistan, Managing Director, International Business Development Department/Executive officer/ Equity Index Derivatives Department / FX Derivatives Department and Executive Director- Market Data Department.
Other Directorship:
Dr. FU Hao is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited, being a nominee of Shanghai Stock Exchange.
Dr. FU is Vice Chair of Global Business Committee and Managing Director of Global Business Department, Shanghai Stock Exchange. He is responsible for overseeing SSE’s international cooperation, global market promotion and overseas projects. Prior to joining Shanghai Stock Exchange, Dr. FU worked in Jun An Securities Co. and Orient Securities Co. He graduated from Fudan University in 1998, where he earned a Ph.D Degree in Finance.
Dr. FU published a lot of papers and articles in major Chinese finance journals. He has served as the Chairman of Working Committee of Asia Oceanic Stock Exchange Federation from 2014 to 2016. He was awarded as “Shanghai Financial Innovative Figure” in 2014, “Shanghai Financial Leading Talent” in 2017. Under his leadership, Global Business Development Department was honored as “Shanghai May 1st Labor Medal Collective Award” in 2017 and “National Worker Pioneer” in 2019.
Other Directorships:
Ms. Yu Huali is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited, being a nominee of Shenzhen Stock Exchange (SZSE). Ms. Huali graduated in Computer Sciences Engineering from Huazhong University of Science and Technology, in 1990. Later on, she completed her Masters in Business Administration from Amoy University, in 2003.
Ms. Huali has held positions of Director, IT Strategy and Planning Department and Computer Engineering, in SZSE, during her tenure from 2011 to 2015. Since 2012, she has been serving as Vice Chief Engineer (CTO) of SZSE.
Mr. Jiang Ketao is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited, being a nominee of Pak China Investment Company Limited (PCICL).
Mr. Jiang has 21 years’ of affiliation with China Development Bank (CDB), where he served at various positions in Asset Management, Credit Management, Customer Services, Global Cooperation Management and International Finance Departments. He has also accomplished various international investment ventures of CDB as Senior Appraisal Specialist and Senior Negotiator. Before joining PCICL, he was Director of Coordination Division, International Finance Department of CDB. He earned the title of “Model Worker of CDB” in 2017-18 and was also awarded as “Outstanding Employee of the Year at CDB” for the years 2017, 2018, 2019. Mr. Jiang received his degrees of Master’s in Finance and Bachelor’s in Economic Information Management from Jiangxi University of Finance & Economics, China.
Mr. Kureishi is a career Banker with a rich and diverse experience of more than 34 years with Citibank both in Pakistan and across 5 countries in Europe, the Middle East, Africa and Asia, where he worked for 9 years. His various roles have included Senior leadership roles in Country Management, Risk, Corporate and Institutional Banking, strategy, and managing Multinational Subsidiaries and Public Sector businesses at the country and regional levels. Mr. Kureishi is presently working for the International Finance Corporation (IFC) as a consultant responsible for business development. He has a BA (Hons) from the University of Sussex UK.
Aside from his professional career, Mr. Kureishi has also been a keen cricketer. He played first-class cricket for PIA and Karachi 1977-81 and for Sussex Under 25 1982-84. He was also captain of Pakistan Under 19 cricket team on its tour of India and Sri Lanka 1978-79. Mr. Kureishi has also been a University level field hockey player.
Mr. Kureishi is married with 2 children. His other interests include Reading and Music.
Other Directorships:
Mr. Mohammad Salahuddin Manzoor is a seasoned financial market professional with over 35 years of experience mostly in major global centres of New York, London and Singapore, and also in Karachi.
After a couple of years at the World Bank in Washington DC (1980-82), Mr. Manzoor earned his MBA degree from the Wharton School, University of Pennsylvania. Starting in International Acquisitions at Chemical Bank New York (now JPM) after graduation in 1984, he moved to Fixed Income Derivatives Trading in London in 1987, subsequently moving to Singapore in 1990 to set up and manage Chemical’s financial markets trading business.
After twelve years with Chemical, Mr. Manzoor joined Banque Paribas’ in 1996 as Asia Regional Head for Fixed Income & Forex Derivatives business. In 1998, he moved back to London with Paribas as Global Head of Emerging Markets Trading for Forex & Local Bond Markets. After the BNP-Paribas merger in 2000, Mr. Manzoor took over as CEEMEA Region Head of Structured Products Marketing for BNP-Paribas. In 2008, he left BNP-Paribas to join Observatory Capital London, a long-short credit hedge fund, as Head of Business Development.
In 2011, Mr. Manzoor joined Habib Bank Limited (HBL) in Karachi as Global Treasurer, taking HBL’s Treasury annual revenues from around PKR 2Bn to circa PKR 30Bn (in 2015, 2016 & 2017). These spectacular results were partly achieved by hiring exceptional professionals and expanding HBL Treasury’s presence to Lahore and Islamabad for enhanced client reach resulting in greater market share. However, in large measure, the success was owed to guiding ALM’s timely entry into the government bond market with investments in long-dated PIBs. Salahuddin established the Fixed Income Derivatives business at HBL taking it to become a leader in IRS & CCS products. In addition, HBL rose to and held the No 1 position in SBP’s Primary Dealer (PD) rankings. During this period, HBL was also ranked No 1 several times in Euromoney’s Forex rankings for Pakistani Banks.
In May 2018, Mr. Manzoor left HBL to contribute to Pakistan’s financial markets at the grassroots level. As a first effort, he took a Visiting Faculty position at IBA, teaching Treasury & Financial Markets in the Fall 2018 semester. He also started Mangrove Markets, a company dedicated to developing Pakistan’s financial markets through Training & Consulting. Mangrove Markets has so far held two Risk Management Training sessions in Karachi and Lahore, well attended by a cross-section of banking and corporate professionals looking to upgrade their knowledge in the use of Forex & Interest Rate Derivatives for Risk Management.
Mr. Manzoor has the distinction of being the only Pakistani member of PRIME Finance in The Hague. PRIME, which stands for Panel of Recognized International Market Experts, gets involved in arbitration in cases of complex derivative litigation. He has attended PRIME’s annual conference in The Hague as a speaker on Islamic Finance & Sustainable Development with special attention to Sharia-compliant arbitration.
Mr. Salahuddin Manzoor is a dual national holding Pakistani & British nationality.
Other Directorship:
Mr. Nadeem Naqvi is the President/CEO of Capital Markets International Advisors Inc. [CMIA] - a Toronto, Canada based financial, investment and management consultancy. He is also the President/CEO of Hocroft group Inc., in Toronto which is a real estate research and investment consultancy.
Mr. Naqvi holds the degrees of MBA in Finance and B.Sc. with Honours in Banking and International Finance from The City University, CASS Business School in London, United Kingdom and completed his High School (GCE A-Levels) from Dover College, Dover, England. He has passed CFA Level II Exams. He brings with him 40 years of work experience in global financial services, operating in diverse environments of the North America, Europe and Middle East, besides that of Pakistan.
Mr. Naqvi was Managing Director of Pakistan Stock Exchange Limited (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 included: implementation of demutualization of the stock exchange; integration of three stock exchanges of Karachi, Lahore and Islamabad and emergence of the Pakistan Stock Exchange as the single capital market in the country; launch of internet/wireless trading platform; advocating with MSCI and international portfolio investors for Pakistan inclusion into MSCI Emerging Market Index and successfully managing the process; playing a key role in divestment of 40% equity stake of PSX to institutional foreign investors. Under his tenure the revenue and profits of the Exchange grew from Rs.692 million and Rs.50 million, respectively in 2011, to Rs.1,477 million and Rs.277 million in 2017.
During this period, he was also the Chairman of the National Clearing Company of Pakistan (NCCPL) and guided the transformation of NCCPL into a full Central Counter Party (CPP) with its own risk management capability as well as introduction of electronic capital gains tax calculation and recovery for the Federal Board of Revenue of the Government.
Prior to joining PSX, Mr. Naqvi was the Chief Executive Officer of a leading asset management company. Earlier, he served as CEO of AKD Securities Ltd., a leading corporate stock brokerage firm in Pakistan which he helped transform from a proprietary business into a full-scale investment banking and brokerage firm. The Company gained recognition by the CFA Association of Pakistan as the best domestic brokerage firm for two consecutive years in 2006 and 2007. Mr. Naqvi also served as Chairman of the first technology venture capital fund of Pakistan (TMT Ventures) and oversaw the completion of several ventures by successful exits at I.R.R. ranging from 35-40%.
Economic & market analyses and research have been the hallmark of Mr. Naqvi’s career. He led an independent investment research firm in USA/Canada, Investology Inc., which was ranked by ‘Business Week’ in 2004 as the third best out of 300 independent research firms in North America. Before that, he headed the Merrill Lynch Pakistan research team. He was also the Head of Research of the investment advisory company of Morgan Stanley Asset Management’s Pakistan Investment Fund for four years from 1996 – 2000.
Mr. Naqvi has been involved in landmark investment banking transactions in Pakistan, including the privatizations of Kot Addu Power Plant, National Refinery and United Bank Limited. He was a member of the Capital Markets Committee, Economic Advisory Council of the President of Pakistan in late 1990’s and has served as Vice-Chairman, South Asian Federation of Exchanges (SAFE); Director, Institute of Financial Markets; and Director, JCR-VIS Credit Rating Agency, besides NCCPL and CDC.
Other Directorships:
Mr. Zubair Razzak Palwala was born in March 1964 at Karachi. He completed his basic education from BVS Parsi High School and D.J. Science College. After completing Bachelor’s in Commerce from University of Karachi, he joined A.F. Ferguson & Co. Chartered Accountants. He completed the article ship in 1991 and passed the intermediate examination from ICAP. Further, he completed his MBA in 2003.
Presently, Mr. Palwala is serving as Company Secretary and Group Director Banking Relations & Corporate Affairs in The Searle Company Limited.
Mr. Palwala has exposure of dealing with the international agencies and international investment funds. He executed sharia compliant income note agreement of US$ 10 million with IFC in Washington DC, USA. He also attracted around US$ 6 million in 2015 from sales of shares of a public unlisted company to an international investment fund.
Mr. Palwala has actively participated in one of the biggest acquisitions in the history of pharmaceutical industry, on leverage buy out (LBO) basis, whereby, borrowings were arranged at Rs. 11 Billion.
He served 3 years in Philips Electrical Industries of Pakistan after which he joined IBL group in 1994 and since then he is affiliated with the said group. Mr. Palwala led the First UDL Modaraba and had also supervised the retail business i.e. Habitt, Dunkin Donuts and carried variable portfolios such as Chief Financial Officer, Company Secretary of The Searle Company Limited, Group Director Finance for various group companies & Managing Director of United Distributors Pakistan Limited.
He had been the Member, Vice Chairman and Chairman of Modaraba Association of Pakistan and attended various national/international investor conferences including Pakistan Investment Conference.
Mr. Palwala is a Certified Director having completed the Directors Training program conducted by the ICAP.
Other Directorships/Offices: