We have no Pakistani individual who is worthy of this seat? Disappointing!

can we hire them for PM and president?.

This is the starting of CPEC ... just wait and watch.

High Salary ? 4M per month is very average, considering even a normal departmental head at large banks in Pakistan earns similar or more pay ! pay scale in Pakistan is very high in financial sector. lets not even go to Salaries of CEO's of Banks.

At least he is not a Chinese national.

@khanm yes, we had two imported PMs in the past Mr. Moin Qureshi and Shaukat Aziz

China is our neighbor in the West too.

Great move, need top notch professionals in PSX to achieve stability and higher attractiveness for investors globally. Go to hell blood sucking mafias.

Nationalism is the last refuge of scoundrels .. We need to appoint more competent managers in other institute . We should even appoint city and provincial managers. In USA a lot of small cities are run by city managers and mayors and elected officer are only ceremonial. Governance in this day and time is a specialized skill and just because someone is elected does not mean they are good managers as well.

Out of frying pan into the fire. First American now China. Chinese are even more ruthless than American. When there are conflicts within the institutions of the country, when we don't learn to stand on our feet, when our leaderships consists of incompetent people; this is got to happen.

@Ali Rizvi, ask your corrupt MQM.

Please appoint Gujarati as chairman, then you will see what is growth.

@Ali Rizvi Let's try foreign expertise. Every local appointee is a safarishi.

Pakistani stockbroker resisted but no one is listening to a Pakistani in Pakistan. TY iron brother China for making the all decision for Pakistan.

For the record, Bank of England Governor Mr. Mark Carney is also a Canadian national and was appointed after much resistance at domestic front. Does UK have any dearth if talent? Indeed not.

Congratulations, Mr. Richard Morin.

Instead of hiring a crook from inside the country it is better to hire the Canadian.

First a German for PIA and now Canadian for PSX. Shame on the Govt.

Once upon a time PIA had a German CEO

This is very good news. Atleast he was not hired by any currept politician. Canadian are very professional. Like Mark Carney Governor of the Bank of England and also Chairman of the G20's Financial Stability Board is a Canadian.

Very sad and disappointing decisions. What they are trying to prove by hiring foreigner who doesn't understand our business culture.

this is indeed good news if the gentleman is worthy of it. We should be more open about getting qualified foreign individuals to work in our country People tend to forget that qualified Pakistanis are also employed by international companies all over the world.

I wonder, what he will SELL and run away like the German CEO of PIA ?

Why reject talent based on his passport? He's Canadian, not from an enemy country.

@hemant Your comment doesn't even make sense.

Good move

China is owner of psx their wish

@khanm Can always elect a good candidate at home.

@Zulfikar Just to add, Carney was Bank of Canada governor. He was very good for Canada. He made very good decisions for Canada also didn't let prime ministers or others, bully him. On world stage, he is very well respected. Too bad Canada lost him. U.K probably gave him a very good package.

The Bank of England has a Canadian national heading it (Mike Carney) , Pakistan should appoint the best person for the job not just Pakistani citizens - we tried only Pakistanis with PIA and look what happened

His profile shows he's just an average individual and doesn't have the required experience to head a stock market that has a market cap greater than that of New Zealand's stock market. He just has a regular economics degree with an MBA and that too, from the 90s when people used typewriters and regular mail. Asia's, or even the world's, most improved and successful market doesn't need such a lightweight. His only experience and/or background is that he worked with a Mauritius stock exchange way back in the 90s. This guy probably doesn't even know what a Bloomberg terminal is and probably is used to trading by yelling and hand-written notes. Not at all a good omen for the future of this country's stock market. I request all those in power to immediately, intervene and stop this amateur, sub-par appointment, forthwith. The idea is to hire someone who benefits the stock market, not himself, alone.

@Bhopal Most stock brokers in KSE are Gujaratis

Now even in Pakistan, as the world fewer people trust Pakistanis least of all the Iron Brother

So what, if a foreighner is appointed. May be he is capable. For 70 years, Pakistani were at helm of stock market, what good they have done?

better to bring someone from the outside, PSX is highly manipulated by brokers

We have non Pakistani CEOs in Numerous fields directly or indirectly so what is wrong in this. Maybe maybe this could result in some better ways as we have lost seventy precious years already and we are still in a position to stand and stare.

Unfortunately, Pakistan lacks senior managerial talent having world exposure. It is okay to hire capable foreigners for certain positions on merit if appropriate talent is not available in Pakistan. We should be open in our approach

this is how Ishaq Dar did with Karachi Stock Exchange.

@Ali Rizvi If the appointment is `based on merit then there should be no objection

The Chinese control it now. It's no more your stock exchange.

@hemant This is good and we need impartial and honest people and nationality should not be an issue.

I don’t think nationality matters as large financial organization as they have global interface and footprint. Governor of Bank of England is Canadian. Plus Canada has a very good expertise in this area. I’m sure, he will add tremendous value and lift the organization to better levels.

There are enough qualified people in Pakistan.

@Arshad I am assuming that the German did not run away with the plane. The most probable reason would be that PIA did not have money to pay him his salary or severence package and they would have asked him to take the plane and sell it off.

@Hassan stability and attractiveness is not in the hands of Stock Exchange. It's with politicians and their policies.

German CEO for PIA, Canadian for PSX, Very soon a Chinese for PM?

Hope he too gets an opportunity to retire from the active service too just after a few months at the PSX with a golden opportunity coming his way like the ex CEO appointed in the PIA who simply ran away with an aircraft.

This is what happens when you privatize your nationalize assets...thanks to Ishaq Dar now resting in London hospital bed.

Just wait, only a bit. Soon you would be reading right here that someone from somewhere else has been appointed to head all those institutions here that matter and finally a Governor General to head the State and we will be celebrating it all because a "democratically elected" parliament with vast majority would decide it all and we the dummies would accept it because after all the democratic process must be allowed to continue no matter what. 'Democracy is the best revenge' therefore all these "democrats" are taking revenge from us for allowing them to do us in.

it doesnt seems positive step for PSX

Earlier a German was appointed to run PIA, who in turn run away with PIA Boeing. So let us see what this Canadian do.

I bet you, like the German ex-CEO of PIA, this gentleman will also collect hefty pay, benefits and cushy life in Pakistan during his tenure without making a dent in PSX and the makeup of the organization. No results to show for millions being dished out. History repeats itself.

will be given 10 time the previous MD and would do nothing extraordinary, must be distributing to SECP officers also.

We should nominate a highly gifted person for this responsible job and no matter which nationality he or she belong.

Stockbrokers are worried that he might actually be honest person.

Excellent. We greatly welcome Mr. Richard Morin as the new PSX Chief. We need to appoint professionals on merit (not on political contacts), they could be Pakistanis or foreigners. Only then can we hope to move forward in the competitive world. The Chinese representation as major stockholders of the SECP will also go a long way to bring Pakistani institutions up to world standards. This is good progress.