CDC appoints new CEO 02 January 2018Islamabad Reporter: Jenna Lomax
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Badiuddin Akber has been appointed as the CEO of the Central Depository Company of Pakistan Limited (CDC), subsequent to formal approval by the Securities and Exchange Commission of Pakistan (SECP).
CDC is responsible for maintaining book-entry securities and manages a portfolio of businesses including trustee and custodial services and share registrar services.
Akber has 20 years of senior management experience in finance and operations in conglomerates in Pakistan.
He has also served as CFO and COO at the National Clearing Company of Pakistan Limited.
Prior to joining CDC, Akber was previously the chief compliance and risk officer and was also the nominated chairman of the Oversight Committee formed by the SECP under the Joint Inspection Regulations 2015.
He has expertise in financial management, clearing and settlement, risk management, operations, product development and project management in the Pakistan capital market.
He has played a key role in the implementation of various significant products, services and reform measures which include straight-through processing of market settlements, and in the introduction of leverage products such as margin financing, margin trading and securities lending and borrowing.
CDC said: “This is the third time in a row that the CEO of CDC has been selected from within its senior management.”
It added: “It is a testament of the company’s effective succession planning and also an expression of continued trust by the board of directors of the company on the senior management.”
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