Appointment of SECP commissioner notified

BUSINESS

ISLAMABAD – December 7: The federal cabinet Friday issued notification for the appointment of two new commissioners at the Securities and Exchange Commission of Pakistan (SECP).  According to a notification issued by the Finance Division here on Friday, the federal government has appointed Aamir Khan (Executive Director/ Spokesperson SECP) and Farrukh H Sabzwari as commissioners in SECP for a period of three years with immediate effect.  Following appointment of two new commissioners, the number of commissioners now stands at five, completing the commission.

Aamir Khan has extensive experience, spanning almost 30 years covering banking, capital markets, structuring of financial solutions/products, leading national initiatives, business transformation, and regulatory reform. Since 2012, he has been serving as an Executive Director (ED) at the SECP. During his tenure of over 6 years with SECP, he has headed key operational departments i.e. Specialized Companies Department, Securities Market Surveillance Department, Commodities Market Department and International Relations, in addition to Chairman’s Secretariat and Media Department. He has led key initiatives at SECP such as launching of Commodity Murabaha at PMEX, Agri related initiatives, bringing Microfinance companies onto SECP’a regulatory ambit, finalising of numerous laws and improving EoDB.

Moreover, Aamir Khan has extensive experience in corporate, investment and institutional banking, spanning over 20 years in Islamabad, Lahore and Karachi. He has also served on senior positions at Standard Chartered Bank, Royal Bank of Canada, and American Express Bank Ltd. He is very knowledgeable about the entire spectrum of banking industry, including treasury, operations and credit risk management. He worked on numerous mega deals for telecom, cement, textile, and real estate sectors. He is very comfortable with advanced financial products including derivatives, credit linked notes and credit structuring for cross border transactions.

He is a Chevening Scholar, has an MBA degree as well as MSc in International Banking from UK, where he specialised in balance sheet management with derivatives. He is also an associate of the Institute of Bankers in Pakistan.

With over 25 years of experience, Farrukh brings with him a wealth of experience accumulated through his previous roles such as Managing Director Equities at BMA Capital, Director Asian Equities Sales at Credit Suisse in Singapore, CEO of KASB Securities in Karachi and VP Subcontinent sales with CLSA in NY. Having spent more than 20 years covering the Asian Equities asset class from New York, Singapore and Karachi, Farrukh is well entrenched in Asian equities and more specifically Frontier Markets.