Mr. Sulaiman S. Mehdi, the Chairman of Pakistan Stock Exchange Limited (PSX),...
Mr. Richard Morin joined Pakistan Stock Exchange Limited (PSX) as CEO in Janu...
Mr. Que Bo is serving as Non-Executive Director on the Board of Pakistan Sto...
Mr. Shehzad Chamdia is a fellow member of the Institute of Chartered Account...
Mr. Abid Ali Habib was a prominent member of brokers’ community at Pakista...
Ms. Yu Huali is serving as Non-Executive Director on the Board of Pa...
Mr. Saad Amanullah Khan has nearly three decades of experience of working fo...
Mr. Shahnawaz Mahmood is currently the Deputy Managing Director of the Pak C...
Mr. Amjad Pervez possess around 37 years of diversified experience wit...
Mr. Zhiping Rong is serving as Director representing China Financial Futures...
Mr. Sulaiman S. Mehdi, the Chairman of Pakistan Stock Exchange Limited (PSX), holds a Master’s degree and is an FCIS. He is a Certified Director from the Pakistan Institute of Corporate Governance (PICG). He has 17 years of experience working with leading Financial Services Groups in senior positions in the areas of investments, operations, marketing, legal and corporate affairs.
Mr. Mehdi is the CEO of Cyan Limited (formerly Central Insurance Company Limited - CICL). He joined CICL as the COO and Company Secretary (CS) on October 01, 2010 and led the insurance license revocation of CICL. The revocation of insurance license and its business restructuring from CICL to Cyan is a landmark transaction, and the first of its kind in Pakistan.
Cyan is a public listed Investment Company with focus on public and private equity investments and is a DH Group company. Cyan commenced its formal investment journey in 2012 with investable capital of PKR 3bn and has paid cash dividends of PKR 5.28bn in 5 years from 2012 to 2016. Cyan’s equity portfolio has been consistently outperforming the benchmark KSE-100 Index since 2012 to date.
Amongst his prominent achievements is the acquisition of HUBCO from National Power on June 13, 2012. The acquisition value was PKR 6bn and was sold in March 2018 for PKR 22bn resulting in gains of app. PKR 14bn (excluding dividends) in less than 6 years. He also had the privilege of leading the election process of HUBCO for DH Group twice in 2012 and 2015 and managed 8 out of 11 seats with just 17.5% shareholding while managing the rest through proxies.
Mr. Mehdi has served on the Board of Dawood Lawrencepur Limited from 2011 to 2014. Moreover he was a Director for FOCUS Pakistan from 2008 to 2011 (an Aga Khan Foundation backed NGO) and also served as director for 3 years at Sach International (Pvt.) Ltd. Also he has been a director of lnbox Business Technologies (Pvt.) Ltd., lnbox Consulting (Pvt.) Ltd. and lnbox Corporation (Pvt.) Ltd. from June 15, 2015 to August 23, 2016.
Before Cyan, he served as the COO and CS of ABL AMCL from January 01, 2008 to September 30, 2010 and during his tenure the assets under management grew from a start-up fund of PKR 1.8bn to 13bn with four funds. Before ABL AMCL he was also associated with Allied Bank Limited - Corporate and Investment Banking Group as Senior Vice President (SVP) from June 2007 till December 31, 2007, and was primarily responsible for the formation of ABL AMCL. Before joining ABL, he served as the COO and CS of PICIC Asset Management Company Ltd. - one of the leading AMCs of Pakistan from July 2004 to June 2007 and was primarily responsible for the formation of PICIC AMC. During his tenure the assets under management in the form of closed end funds grew from PKR 4.5bn to 19bn. He started his career with Pakistan Industrial Credit and Investment Corporation Limited (PICIC-DFI) in July 2001 as a Management Trainee (OG-II] and was there till June 30, 2004 in the capacity of Manager Corporate Affairs.
He is a member of The Sind Club, The Karachi Boat Club (KBC), DHA Golf Club and Aga Khan Gymkhana and is socially active. He is a known figure amongst the business and corporate world.
At PSX, besides being the Chairman of the Board, Mr. Mehdi is also serving as the Chairman of Nomination Committee and Human Resources and Remuneration Committee and as the member of Regulatory Affairs Committee. He is also trustee for the Centralized Customers Protection Compensation Fund.
Mr. Richard Morin joined Pakistan Stock Exchange Limited (PSX) as CEO in January 2018. Mr. Morin has over 30 years of experience in capital markets and financial services in emerging markets and in Canada.
Mr. Morin started his career at the Montreal Exchange where he held various positions of increasing responsibility in equities and derivatives, including Vice-President Operations – Derivative Products, where he was responsible for the operations of the equity derivatives market and for setting up the operations of the financial futures market.
Mr. Morin accepted the position of Chief Executive of the Stock Exchange of Mauritius with the mandate to help bring the market in line with best international standards and launched the first G- 30 compliant central depository in the region. He then accepted the position of founding Managing Director, for the Regional Stock Exchange of West Africa.
In 1999, Mr. Morin moved back to Canada as Vice-president of National Bank Securities, the mutual funds and online brokerage subsidiary of the National Bank of Canada. Mr. Morin was later appointed Managing Director of the Investment Industry Association of Canada, where he led the investment industry’s advocacy and lobbied efforts in the areas of listed and OTC derivatives and online brokerage.
During his career, Mr. Morin also founded 2 firms in Canada offering investment management services to private and institutional clients.
As a consultant, Mr. Morin advised securities regulators, central banks and pension funds in Canada and abroad. He was also lecturer in the Graduate Finance program of Sherbrooke University. As a volunteer, he acts as a mentor to assist entrepreneurs in early stage tech startups.
Mr. Morin earned a Bachelor’s degree in Economics from the University of Montreal and a MBA from McGill University.
At PSX, besides being the Managing Director, Mr. Morin is also serving as the Chairman of Listing and Voluntary De-Listing Committee and as the member of IT & IS Steering Committee and IT Procurement Committee.
Mr. Muhammad Ashraf Bawany remained Chief Executive and Managing Director of Linde Pakistan Limited – a Member of Linde AG, Germany from 2nd August 2013 to 7th January 2018. He was then appointed as Advisor to Chairman & Board of Directors from 8th January 2018 to 31st March 2018. He served Linde Pakistan Limited for more than 30 years in various leadership roles and was responsible for successfully executing several local and regional initiatives and strategies. Prior to his appointment as CEO & MD, he held a number of key positions within the company.
He takes keen interest in the promotion of education, trade and industry and strongly advocates these causes through various professional, corporate and trade platforms. He also supports various social and welfare activities. In this regard he is associated with the Welfare Committees of Tabba Heart Institute (THI), Tabba Kidney Institute under Aziz Tabba Foundation (ATF).
Mr. Bawany is Chairman Pakistan German Business Forum (PGBF) and a Director on the Board of German Pakistan Chamber of Commerce & Industry (GPCCI), Trustee - Help International Welfare Trust (HIWT) and Member Supreme Council, Jetpur Memon Association. Mr. Bawany is also a Certified Director from the Pakistan Institute of Corporate Governance (PICG), and a Director on PICG board and Chairman of the Board Audit Committee. In addition, he has also served as nominee Director of Pakistan Stock Exchange Limited (PSX) on the Board of National Clearing Company of Pakistan Limited (NCCPL) and Chairman Board Audit Committee of NCCPL, Vice President of Bin Qasim Association of Trade & Industry (BQATI) and Vice-President Jetpur Memon Association (JMA) and Chairman, Strategic Advisory Board (SAB) of Memon Professional Forum.
He is the former President of Institute of Cost and Management Accountants of Pakistan (ICMAP) and Pakistan Institute of Public Finance Accountants (PIPFA).
Mr. Bawany is a fellow member of ICMAP and ICSP. He is also a Law graduate and has done various advanced management courses from local and foreign institutions.
At PSX, Mr. Bawany is also serving as member of Nomination Committee, Human Resources & Remuneration Committee, IT Procurement Committee and Listing & Voluntary De-Listing Committee. Moreover, he has been nominated by PSX to serve as Director on the Boards of National Clearing Company of Pakistan Limited, Central Depository Company of Pakistan Limited and VIS Credit Rating Company Limited (formerly JCR-VIS Credit Rating Company Limited).
Mr. Que Bo is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX), being a nominee of Shanghai Stock Exchange (SSE). Mr. Que is Executive Vice President of the SSE. Since 1994, Mr. Que has worked in different divisions in the SSE, including Supervision of Listed Company, Stock and Bond Trading Management, Legal Affairs, Global Business and Market Surveillance Department etc. Currently he oversees Global Business Development Department and Hong Kong Representative Office of SSE. He serves as Chairman of China Investment Information Services Ltd. (CIIS), Shanghai Financial Administrative Service Co. Ltd. and Shanghai Zhuyuan Project Management Co. Ltd., which are all subsidiaries of SSE.
Mr. Que has been involved in a wide range of business of SSE, including trading management, bond business, surveillance system building, pre-listing consultation and information disclosure supervision. He has rich experience in capital market development, listed company management and exchange self-discipline.
In the preparation of Shanghai-Hong Kong Stock Connect (SHKSC) in 2014, Mr. Que has been engaged in coordination across various departments within SSE and communicating with SFC and CSRC, HKeX, China Clear and international participants. He also leads a team that designs the business model of the SHKSC and drafts business rules and agreements. Mr. Que initiated the formation of China Europe International Exchange AG (CEINEX), a joint venture established by Shanghai Stock Exchange, Deutsche Börse Group and China Futures Exchange. CEINEX provides the first dedicated trading venue for offshore RMB denominated securities products.
Mr. Que Bo graduated from the Law Department of East China University of Politics and Law with an L.L.M. in 1994. In 2002, he was awarded a Doctorate in International Law.
Mr. Que Bo is also serving as member of Listing & Voluntary Delisting Committee of PSX.
Mr. Shehzad Chamdia is a fellow member of the Institute of Chartered Accountants of Pakistan and a renowned educationist. He also holds a bachelor’s degree in Commerce from University of Karachi.
Mr. Chamdia has been associated with PSX since 1988. He was a corporate trading right holder by the name of Shehzad Chamdia Securities (Private) Limited where he acted as CEO and then as Chairman. With effect from October 2016, the said company surrendered its trading right entitlement certificate. During this period, he has served PSX since 1992 in various capacities being on the Board for a number of terms, participating and heading various committees of the Board and SECP, mainly focusing on corporatization, demutualization and integration of PSX for the past few years which has now been successfully accomplished. He had also served as a Director on the Boards of Central Depository Company of Pakistan Limited and National Clearing Company of Pakistan Limited, being the nominee Director of PSX.
Mr. Chamdia is the Founder President of College of Accounting & Management Sciences (CAMS) as well as Director of the Avicenna School (Private) Limited.
At PSX, he led the Divestment Committee formed by SECP in 2016 which had successfully achieved the tasks of divesting 40% of PSX’s strategic shares, followed by offer for sale of 20% of PSX’s equity shares to general public.
Besides being a director on the Board of PSX, Mr. Chamdia is also the Chairman of IT Procurement Committee and the member of Audit Committee and Listing & Voluntary De-Listing Committee.
Other Directorships and offices:
Mr. Ahmed Chinoy is an elected Director on the Board of Pakistan Stock Exchange Limited. 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. He has also been appointed as the member of Audit Committee and Listing & Voluntary De-Listing Committee.
Other Directorships and Offices:
Mr. Abid Ali Habib was a prominent member of brokers’ community at Pakistan Stock Exchange Limited (PSX) and had always rendered valuable contribution towards the betterment and growth of the Exchange. In the past, he has been elected as Director of former Karachi Stock Exchange [now PSX] (KSE) for various terms between the years 1995 and 2012. During these terms, he has served on various Committees constituted by the Board, as Chairman or member.
He played the central role in conceptualization, planning and design of internet-based order routing system and also supervised, implemented and tested Karachi Automated Trading System.
As member of Demutualization Committee of KSE during the years 2005, 2006 and 2010, Mr. Habib was the key figure in preparation of Preliminary Report on proposed demutualization of KSE, identifying various issues and recommendations thereon, in line with existing models and international practices. Ultimately, the objectives of corporatization and demutualization were achieved in 2012.
Mr. Habib held the position of Chairman, Companies Affairs/Corporate Governance Committee of KSE for the years 2010 and 2011. During this term, a number of tasks were initiated and successfully completed, having positive impact on overall regulatory environment of the Exchange. Some of the major achievements included (i) various amendments in Listing Regulations; (ii) action against delinquent/non-performing companies in violation of Listing Regulations; (iii) revision of annual listing fee; (iv) mechanism for verification of rumor mongering in the market pertaining to listed companies/securities; (v) implementation of revised Code of Corporate Governance; (vi) measures for disclosure of information to market participants/investors pertaining to sale/purchase of securities by any director, CEO or executive or their spouses; and (vii) revision of criteria for selection of Top Companies.
At PSX, Mr. Habib is serving as the member of Human Resources & Remuneration Committee and Listing & Voluntary De-Listing Committee. At Central Depository Company of Pakistan Limited (CDC) where he is nominated as Director by PSX’s Board, Mr. Habib is appointed by the Board of CDC as the Vice-President of Disciplinary Tribunal and member of Investment Committee.
Ms. Yu Huali is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX), 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.
Besides being a director on the Board, Ms. Huali is also serving as member of IT & IS Steering Committee of PSX.
Ms. Naz Khan is currently the Managing Director of X-Petroleum Limited. Prior to this, she was with Engro, initially as the Chief Financial Officer of Engro Fertilizers and then as the CFO of Engro Corporation. During this period she was part of the team at Corp that implemented a successful turn-around through several transactions including restructurings, listings and new projects.
Prior to Engro, Ms. Naz has been involved with the financial markets for over 18 years on the asset management, investment banking and broking sides. She was CEO of KASB Funds from 2005 to August 2010 and earlier has been actively involved in primary as well as secondary markets for both debt and equity securities.
Ms. Naz has also served on the Boards of Mutual Fund Association of Pakistan (MUFAP), Young Presidents’ Organization (YPO) and several of the Engro company boards, including publicly listed companies and is currently on the Boards of Shell Pakistan Limited and UBL Fund Managers Limited.
Ms. Naz has served as a member of various task forces and committees, including the Debt committees of the SECP and the KSE and is currently a member of the Investment Committee of Pakistan Human Development Fund (PHDF).
Ms. Naz holds a BA in Economics from Mount Holyoke College, MA, USA and has attended leadership and management courses at INSEAD, Harvard University and Georgetown University.
Ms. Naz has been nominated by the Board of Pakistan Stock Exchange Limited (PSX), as member of Regulatory Affairs Committee and Audit Committee.
Mr. Saad Amanullah Khan has nearly three decades of experience of working for Gillette Pakistan as CEO, and Procter & Gamble in senior executive positions. He is a graduate of the University of Michigan MBA (Class of 1987) and holds two engineering degrees.
Mr. Saad is a very active social worker, sitting on the boards of over a dozen NGO’s and an advisor to another dozen social enterprises. Mr. Saad is founding board member of Pakistan Innovation Foundation (PIF), I Am Karachi Consortium, South East Asia Leadership Academy (SEALA) and Agha Khan Hospital’s Patient Welfare Committee.
He also served as the President of Public Interest Law Authority of Pakistan, a civil rights organization and Board Member of Patient Aid Foundation, a private group helping the largest public hospital in the region Jinnah Post Graduate Medical Center (JPMC); LettuceBee Kids, an organization helping the cause of street kids; Naya Jeevan working to offer health insurance to urban poor; AIESEC which provides young people with leadership opportunities to develop into global leaders; National University of Sciences & Technology’s (Islamabad) Corporate Advisory Council (CAC), Society of Human Resources Management; and EcoEnergy.
Mr. Saad is an author of “It’s Business, It’s Personal” a book on setting your company’s vision and delivering it through organizational excellence. He is an active writer in newspapers, articles focused on economic growth, democracy, entrepreneurship, social development and leadership.
As per Mr. Saad, his goal of life is to be a good human being and a good corporate citizen of Pakistan. When President of American Business Council (ABC), he got Rs 1 Billion from USAID for the Bolton Market Traders who lost their shops in the Dec 2009 terrorist attack. Mr. Saad is a certified member of the Pakistan Institute of Corporate Governance (PICG).
At PSX, besides being an independent director, Mr. Saad, is serving as the member of Nomination Committee and Human Resources & Remuneration Committee.
Mr. Shahnawaz Mahmood is currently the Deputy Managing Director of the Pak China Investment Company Limited. As an executive director, he is involved in devising the strategic direction for company’s business objectives as well as organizational management. He has been instrumental in developing new initiatives such as advisory, private equity and infrastructure financing. He has also played a vital role in attracting Chinese investments in initiatives such as acquisition of Pakistan Stock Exchange Limited (PSX). He is also a director on the Board of Central Depository Company of Pakistan Limited (CDC).
Mr. Mahmood has previously been a part of the Public Private Partnership (PPP) initiative for infrastructure development by the Government of Pakistan. In his role as the Head of Projects at the Infrastructure Project Development Facility (IPDF), Ministry of Finance, he had been responsible for developing and facilitating national PPP policy, sector initiatives and transactions portfolio for private sector investment. He has done extensive research work on corporate governance in Pakistan and has played an important role in implementing United Nations Development Program (UNDP) project on corporate governance with the Securities and Exchange Commission of Pakistan (SECP). He is also the recipient of CIDA’s President Award of Excellence awarded by the Canadian government in recognition of his work as Development Economist on debt swap. He started his career with PTCL working as Financial Analyst in the Project Finance department.
Mr. Mahmood is a Chartered Banker from Chartered Banker Institute, UK and holds MBA and MSc Finance and Economics degrees from UK. He has also attended investment and risk management training courses at Harvard Business School and INSEAD. He has also passed Financial Derivatives course by CISI, UK.
Besides being a director, Mr. Mahmood is also serving as member of Audit Committee, Human Resources & Remuneration Committee and Listing & Voluntary De-Listing Committee. In addition, he has been nominated by PSX as Director on the Boards of National Clearing Company of Pakistan Limited and Pakistan Mercantile Exchange Limited.
Mr. Masoud Ali Naqvi is a Fellow member of the Institute of Chartered Accountants of Pakistan (ICAP). He was the Senior Partner of KPMG Taseer Hadi & Co. till December 31, 2014 and thereafter served as Advisor of its Board from January 2015 to December 2017.
He has served as President of the ICAP for two terms and as Member of its Council and Committees for Review of Code of Corporate Governance 2002.
Mr. Naqvi is currently acting as Chairman of Tax Reforms Commission of Pakistan since September 2014 and Member of Tax Reforms Implementation Committee of FBR since January 2016.
He was the President of Management Association of Pakistan and Pak-American Cultural Centre as well as the Member of various Government Committees. He has also held honorary positions at various NGOs and welfare organizations such as Baitul Sukoon, Talent Inducement & Placement Society and other community projects and trusts.
Mr. Naqvi has contributed articles in professional journals, conducted training sessions on Corporate Governance, delivered key-note addresses and conducted seminars presentations and TV talk-shows on subjects of economy and tax reforms.
In addition to being an independent director of Pakistan Stock Exchange Limited (PSX), Mr. Naqvi has been nominated by the Board as the Chairman of Audit Committee and as member of Regulatory Affairs Committee, Nomination Committee and IT Procurement Committee.
Mr. Amjad Pervez possess around 37 years of diversified experience with exposure to treasury, banking, accounts, budgeting, project implementation, money market, forex, stock broking and investments. He is a Gold Medalist and holds Master’s Degree in Business Administration.
Mr. Pervez started his Professional career in 1981 from Saudi Arabia and later promoted as GM and team leader with Industrial Development Bank of Pakistan. He served on the Board of Directors of different companies including The Bank of Khyber. He was also engaged by Shore Bank International Limited (Consulting firm based in Chicago) as a consultant to set up the Treasury Department of Kashf Microfinance Bank.
Mr. Pervez joined the Bank of Khyber in 1992 as Deputy Director and ascended to the position of Senior Vice President. In 2004, he joined First National Equities Ltd as its Chief Operating Officer and later promoted as Chief Executive Officer. He was also the Financial Advisor to the Government of Khyber Pakhtunkhwa Pension & Provident Funds from 2002 to 2015 and provided advisory services to Pearl Securities Ltd from September 2012 to April 2018. He has attended several national & international courses.
Mr. Pervez has been nominated by the Board of Pakistan Stock Exchange Limited (PSX) as member of Regulatory Affairs Committee.
Mr. Zhiping Rong is serving as Director representing China Financial Futures Exchange Limited (CFFEX) on the Board of Pakistan Stock Exchange Limited (PSX). Mr. Rong graduated from the College of Armored Forces Engineering, Liberation Army, China, in the year 1984, after which he completed his masters in Engineering from the same institution in 1987. He also holds a master’s degree in Finance from Lancaster University, United Kingdom.
Mr. Rong joined CFFEX in October, 2012, where he is currently serving as the Chief Executive Officer (CEO). Formerly, he has held positions of Executive Vice President (EVP) at China Re-Asset Management Company Limited and Deputy Director of Treasury Department at China Development Bank.
At PSX, besides being a director on the Board, he is also serving as a member of Nomination Committee.
Mr. You Hang is serving as alternate director for Mr. Zhiping Rong on the Board of Pakistan Stock Exchange Limited (PSX). Mr. You, being one of the inaugurators of China Financial Futures Exchange (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 11 years and has served them in the capacity of Director, Executive Office/Equity Index Derivatives Department / FX Derivatives Department and Deputy Director- Market Data Department.
Prior to that, he was associated with Shanghai Futures Exchange in the capacity of Manager, Financial Futures Department where he served for more than 2 years. He has also served as Financial Analyst in Chicago, Assistant Manager Research & Development Department in SIIC Hong Kong and as Project Manager at Shanghai Municipal Foreign Affairs Office, Australia/China for all together 6 years.
At PSX, besides being an alternate director on the Board, Mr. You Hang is also serving as member of Nomination Committee and Listing & Voluntary De-Listing Committee. Moreover, he has been nominated by PSX as Director on the Board of Pakistan Institute of Corporate Governance.