Mr. Ruhail Muhammad’s career spans over 35 years in general management, business development, strategy, financial planning, and people development. He has held various C-suite positions in companies focusing on a diverse range of activities from Chemicals to Energy. He is currently CEO of Lucky Electric Power Company Limited, a 660 MW IPP subsidiary of Lucky Cement. Prior to this, he was CEO of Hub Power Holdings Ltd. a subsidiary of HUBCO, Pakistan’s largest IPP. He was responsible for managing the growing portfolio of HUBCO, evaluating onshore & offshore acquisitions, project financing, economic evaluation of all growth projects, and financial re-engineering to support the growth vision of the Company. Prior to HUBCO, he was the CEO of Engro Fertilizers from 2012-2018.

He has served on the Boards of Engro Corp, various Engro subsidiaries, K-Electric, NBP Funds, Pakistan Institute of Corporate Governance, British Overseas School, KP Energy Board (PEDO), and as Chairman of Pakistan Mercantile Exchange Limited. Currently, he is serving on the boards of Lucky Electric Power Company Limited and other Lucky Group entities, Network of Organizations Working For People With Disabilities in Pakistan (NOWPDP-NGO), EFU Life Assurance, Pakistan Stock Exchange, and Dawood Lawrencepur Limited. He is a CFA Charter Holder and holds an MBA degree from the Institute of Business Administration, Pakistan. He attended the Advanced Management Program at INSEAD and completed an Agri-Business certification at Harvard Business School.

Mr. Farrukh H. Sabzwari has spent more than 25 years in the Investment banking business in senior management positions both locally and abroad. He has previously served as CEO and MD of KASB Securities (local partner of BoA Merrill Lynch); BMA Capital and Country Head for CLSA Emerging Markets in Pakistan. His time abroad includes stints at CLSA Emerging Markets in NY USA, where he was VP sub-continent sales and at Credit Suisse in Indonesia and Singapore – where he spent seven years looking at both APAC and Frontier Markets as Director Equities sales. He has also served as Chairman (December 18 – August 19) and Commissioner of SECP (Securities and Exchange Commission of Pakistan) from 2018 to 2021, a job he took up on his return to Pakistan.

Some key initiatives during his three year term at SECP included the introduction of a comprehensive KYC/AML reporting mechanism for regulated entities in line with FATF recommendations, the launch of ETFs in Pakistan, the revamp of REITs regulations that has helped unleash a renewed wave of interest in the sector, the setting up of Emlaak – a one-stop shop for Mutual Fund Investments in the country and the introduction of Stewardship guidelines for institutional investors to encourage improved capital allocation through effective implementation of the corporate governance framework.

Mr. Sabzwari was a proposed Director on the board of Hugobank – a Getz Group entity that he had been associated with from 2022 to 2024– one of the five Digital Banking consortiums that were awarded banking licences by the SBP in January 2023. He has also served as Chairman of CDC & of the Institute of Financial Markets of Pakistan (IFMP). As CEO PSX, he is currently a co-opted member of the Finance Minister’s Capital Markets Advisory Council, and a member of the board of Governance of IoBM (Institute of Business Management). He has capital market certifications from various jurisdictions including Singapore, Indonesia and NY and is an alumni of the IBA in Karachi, where he graduated with an MBA in December 1992. To enhance his knowledge and understanding of the Fintech space, he undertook a three month Fintech course in Innovation and Transformation in Financial Services from the NUS in Singapore in June 2022.

Mr. Adnan Asad is the CEO of the Venus group of companies. Educated from Aitchison College. He has a Bachelors and Masters from Florida USA He is also the President of the Sind Squash Association.

Venus Group operates in 6 countries namely USA, Pakistan, Sri Lanka, Bangladesh, Afghanistan and UAE. The Group is involved in several fully integrated activities from Consolidation and Freight Forwarding in USA, Clearing and Forwarding in Pakistan, Bonded Warehouse, Intercity Logistics Warehouses in 7 major Cities, and Direct Distribution to end users in the Food Service Sector.

Venus Group is also the exclusive logistic partners of McDonald’s Pakistan and manufactures desserts, creams, produces both dairy and non-dairy ice cream, tissue products, packaged ice cubes, paper cups, jams and chocolate coating. The Group has franchisees for Cold Stone and Texas Chicken.

The Group is also constructing a resort/convention centre on Shimla Hill Abbottabad. Future plans include having a gold Private jet service centre in Karachi. The company has a licensee for Eclipse Jets in the region.

Mr. Nihal is an MBA (Finance & MIS) from McGill University. He takes particular interest in facilitating the development of the capital market, governance of public companies and building shareholder value.

He is currently a Director on the Boards of Pakistan Stock Exchange Limited, International Steels Limited, Crescent Steel & Allied Products Limited, The Organic Meat Company Limited, National Clearing Company of Pakistan Limited, NIFT and Ubiquity Trading Limited. He has also served on the Boards of Pakistan Oilfields Limited (for 9 years) and Ferozsons Laboratories Limited (for 15 years). Mr. Nihal has served two terms as a director on the Board of the Mutual Funds Association of Pakistan (MUFAP).

Mr. Nihal’s focus has expanded to philanthropic activities as a donor and as a member/trustee of The Citizens Foundation, the Patient Aid Foundation and The Jinnah Foundation.

Mr. Ahmed Chinoy, H.I., S.I. is an elected Director on the Board of Pakistan Stock Exchange Limited (PSX). He is the Chairman of Arch Group of Companies and is engaged in overseeing various businesses such as, textiles, real estate and I.T and security investments.

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, besides being an alumni of various courses of NDU and MARSEW (Pakistan Navy).

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 in different capacities and has been heading the Memon Community as the President of All Pakistan Memon Federation. 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.

Additionally, Mr. Chinoy is serving as Director of Naymat Collateral Management Company Limited, Creek Developers (Private) Limited, AKD REIT Management Company Limited, Sui Northern Gas Pipelines Limited, CDC Share Registrar Services Limited, I.T Minds Limited, Insijam (Private) Limited, NCEL Building Management Limited, and Sir Adamjee Institute. Moreover, he is the Chairman of Kutiyana Memon Hospital, & Pakistan Cloth Merchants Association, and Member Executive Committee of the Federation of Pakistan Chambers of Commerce & Industry. Mr. Chinoy is also serving as a Managing Partner at Arch Sons, Arch Industries & Lotus Properties, Golden Livestocks, Al-Karam Builders & Developers, & Al-Karam Lagoons, and Managing Trustee at COMMECS Educational trust. He is also an Executive Director of Virtuosoft (Private) Limited.

Mr. Ahmed Chinoy, H.I., S.I. is an elected Director on the Board of Pakistan Stock Exchange Limited (PSX). He is the Chairman of Arch Group of Companies and is engaged in overseeing various businesses such as, textiles, real estate and I.T and security investments.

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, besides being an alumni of various courses of NDU and MARSEW (Pakistan Navy).

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 in different capacities and has been heading the Memon Community as the President of All Pakistan Memon Federation. 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.

Additionally, Mr. Chinoy is serving as Director of Naymat Collateral Management Company Limited, Creek Developers (Private) Limited, AKD REIT Management Company Limited, Sui Northern Gas Pipelines Limited, CDC Share Registrar Services Limited, I.T Minds Limited, Insijam (Private) Limited, NCEL Building Management Limited, and Sir Adamjee Institute. Moreover, he is the Chairman of Kutiyana Memon Hospital, & Pakistan Cloth Merchants Association, and Member Executive Committee of the Federation of Pakistan Chambers of Commerce & Industry. Mr. Chinoy is also serving as a Managing Partner at Arch Sons, Arch Industries & Lotus Properties, Golden Livestocks, Al-Karam Builders & Developers, & Al-Karam Lagoons, and Managing Trustee at COMMECS Educational trust. He is also an Executive Director of Virtuosoft (Private) Limited.

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 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 is currently associated with CFFEX for 20 years and has served it in the capacity of Executive Vice President. Prior to his promotion to the current position, Mr. You used to be the Managing Director, International Business Development Department/Executive office/ Equity Index Derivatives Department/FX Derivatives Department and Executive Director- Market Data Department.

Additionally, Mr. You is presently serving as Nominee Director of PSX on the boards of National Clearing Company of Pakistan Limited and Central Depository Company of Pakistan Limited.

Dr. FU Hao is Executive Vice President of Shanghai Stock Exchange (SSE). He is responsible for overseeing SSE’s listing, international business and accounting supervision. He led SSE’s major international business projects including Shanghai-Hong Kong Stock Connect, Shanghai-London Stock Connect, ETF Connectivity schemes and SSE’s investment in overseas markets. He was awarded as“Shanghai Financial Innovation Leader”in 2014 and“Shanghai Financial Leading Talent”in 2017. Under his leadership, SSE Global Business Development Department was honored as “Shanghai May 1st Labor Award” in 2017 and “National Worker Pioneer” in 2019. Dr. FU graduated from Fudan University in 1998, where he earned a Ph.D Degree in Finance.

Ms. Gu Junmei possesses over 20 years of experience in financial information technology, and she is an expert in trading system development, testing and quality control.

Ms. Junmei is currently serving as Deputy Director in the information technology department of Shenzhen Stock Exchange (SZSE). She has held position of Executive Manager in SZSE’s technology strategy and planning department, and in the said role, she oversaw the information technology system quality management, and managed information technology team of 170 people.

Ms. Junmei is also serving as Senior Management Member of SZSE’s Technology Management Committee which outlines SZSE’s information technology development strategy. Moreover, she is an Expert Member of China Securities Industry Standardization Technical Committee. Ms. Junmei received her Masters’ degree from Wuhan University in 2003.

Mr. Aadil Khan is the Managing Partner of Advansity Global and an international financial-sector and capital-markets advisor with more than 22 years of experience across Pakistan, the United States, Europe and the Middle East. He advises governments, regulators, boards and financial institutions on regulatory strategy, governance, institution building, market development, enterprise risk and compliance.

Most recently, Mr. Khan played a senior advisory role in the development and operationalization of Pakistan’s regulatory framework for virtual assets. His work encompassed institutional and governance arrangements, licensing and regulatory frameworks, market-conduct requirements, regulatory sandbox initiatives and coordination with Pakistan’s principal financial-sector authorities. He has also advised public- and private-sector institutions internationally on strengthening regulatory capacity, financial-sector governance and financial-crime risk management, including significant assignments in the United Arab Emirates and Iraq.

Mr. Khan has held senior leadership and advisory positions at the Institute for Financial Integrity and K2 Integrity, Promontory Financial Group—now part of IBM Consulting—and Harris Williams, a PNC company. At Harris Williams, he served as Global Head of Risk, Compliance and Corporate Affairs, with responsibility across the United States and Europe, and served on the boards of the firm’s UK and German entities. Over the course of his career, he has worked with regulatory authorities, global financial institutions, investment banks and other market participants on matters involving governance, regulatory transformation, enterprise risk, AML/CFT and institutional effectiveness.

Earlier in his career, Mr. Khan worked at the Karachi Stock Exchange—now Pakistan Stock Exchange—and the Securities and Exchange Commission of Pakistan, giving him direct experience of Pakistan’s capital markets from both market-infrastructure and regulatory perspectives.

Mr. Khan holds an MBA from the University of Cambridge’s Judge Business School and a BSc (Honours) in Economics from Lahore University of Management Sciences. He is a Certified Anti-Money Laundering Specialist, a Certified Information Privacy Professional and has held FINRA Series 24 and Series 62 licenses.

Mr. Nadeem Naqvi holds the degrees of MBA in Finance and B.Sc. Honors in Banking and International Finance from the City University Business School in London, United Kingdom. He brings with him over 44 years of work experience in global financial services, operating in diverse environments of North America, Europe and the Middle East, besides that of Pakistan. He was the CEO of Habib University Foundation, Karachi from September 2022 to September 2024.

Mr. Naqvi was Managing Director of Pakistan Stock Exchange (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 revenue and profit of the Exchange grew by 110% and 5.5 times, respectively.

During this period, he was also the Chairman of the National Clearing Company of Pakistan Limited (NCCPL) and guided the transformation of NCCPL into a full Central Counter Party (CCP) 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 an 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 under his tenure. 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 analysis 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 No.3 by ‘BusinessWeek’ in 2004 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. More recently, Mr. Naqvi has been involved in financial and real estate advisory business in Canada.

Mr. Naqvi has participated 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 of Pakistan.

Mr. Naqvi is also serving as a Nominee Director of PSX on the boards of National Clearing Company of Pakistan Limited, Central Depository Company of Pakistan Limited, Pakistan Mercantile Exchange Limited, and VIS Credit Rating Company Limited. Additionally, he is the CEO & Director of Capital Markets International Advisors Inc. (Financial Consultancy) and serves as a Director of INFAQ Foundation and Imdad Foundation.

Mr. Song Zhenwen has been serving as the Managing Director and Vice Chairman of the Board of Pak China Investment Company Limited (PCICL) since June 2025.

Mr. Song built a distinguished career at China Development Bank (CDB), where he served from 2004 onward. During his tenure, he held a series of leadership positions across legal affairs, administration, human resources and corporate finance. At CDB’s Beijing Branch, he served as Division Chief in several departments and played a significant role in institutional governance as Vice Chairman of the Labor Union.

Mr. Song holds a Master’s degree in Finance from the School of Economics, Peking University and a Bachelor’s degree in Law from the Central University of Finance and Economics.