ISLAMABAD - The federal cabinet has approved appointment of Farrukh H. Sabzwari as chairman of Securities and Exchange Commission of Pakistan (SECP).
The federal cabinet, which met under the chair of Prime Minister Imran Khan, approved the appointment of SECP’s Commissioner Farrukh H. Sabzwari as chairman of the SECP. Farrukh was appointed Commissioner at SECP on November 15, 2018. He would take charge of the chairmanship following the issuance of notification by the Ministry of Finance. Currently, Tahir Mehmood has the SECP’s charge as acting chairman.
The chairman post was vacated in October this year when Shaukat Hussain had resigned. The government had recently appointed two new commissioners of the SECP taking the number of commissioners to five, completing the commission. The five commissioners of SECP are Tahir Mahmood, Shaukat Hussain, Shauzab Ali, Aamir Khan and Farrukh H Sabzwari. After the new commissioners notified, the federal government had nominated Farrukh H Sabzwari as the SECP chairman.
Farrukh H. Sabzwari is an MBA in finance with more than 25 years of professional experience in the capital markets in Pakistan and abroad. Before joining the SECP as a commissioner in December 2018, he was the CEO of BMA Capital Management, one of Pakistan’s largest firms dealing in financial services.
His previous senior management roles include a 7-year stint with Credit Suisse Securities in Singapore as Director APAC Equities Sales from 2010 to 2017. Prior to that, he was CEO at KASB Securities, a Merrill Lynch JV partner in Pakistan, a position he held from 2005 to 2009. He also spent more than 8 years at CLSA, a Citic-owned boutique investment firm, as Country Manager and Head of Sales for Pakistan from 1995 to 2001, and subsequently as VP subcontinent sales in New York in 2001-2003. He completed his Singapore Broker License and Indonesian Capital Market Exams in 2010 and his Series 7 and 63 in New York in 2001.