Hamid Imtiazi, a veteran banker, is to take charge as new managing director of the Lahore Stock Exchange (LSE) during this month, sources told Business Recorder here on Saturday.
Imtiazi would replace Samir Ahmed who has tendered his resignation about a month ago.
The Securities & Exchange Commission of Pakistan (SECP) has accorded approval for Imtiazi's appointment and he is likely to take charge of his office within this month, it is learnt.
Imtiazi has vast experience in banking and at present he is associated with Prime Bank at Lahore. The post of the LSE MD has fallen vacant after resignation of Samir Ahmed, who has joined a financial institution against handsome remuneration.
He has relinquished the charge of his office on Saturday (May 8). LSE General Manager Farid Malik will act as acting MD of the exchange till the joining of new incumbent.
The LSE Board of Directors had interviewed half a dozen candidates for the slot of MD, of which 4 were short-listed. A couple of days back, the LSE Board interviewed the short-listed candidates and finalised the name of Imtiazi.
His name was sent by the LSE Chairman to SECP high-ups for approval which, it is learnt, have confirmed his appointment as new managing director of the exchange.