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New Chief at SEO

New Chief at SEO New Chief at SEO

The High Council of Securities and Exchange on Saturday appointed Hassan Qalibaf-Asl as the new managing director of Securities and Exchange Organization.
Qalibaf-Asl succeeded Shapour Mohammadi after the latter resigned reportedly following disagreements over management and regulatory issues. 
Mohammadi stepped down after four years at the SEO helm starting in August 2016, according to the Securities and Exchange News Agency.  
An economist and university instructor, Qalibaf-Asl holds a PhD degree in financial management from Tehran University. He is also a faculty member of the Management Department in Alzahra University. 
His past assignments include CEO of Tehran Stock Exchange, head of Iran Investment Company and director of Omid Investment Management Group Company.  He chaired the TSE for 10 years.  
According to SENA, Mohammadi had submitted his resignation to Economy Minister Farhad Dejpasand a month and a half ago. 
The resignation coincided with the SEO announcement that it would tighten the cap on daily price spread of shares to 2% (down from 5% a day) to tame unreasonable growth in stock indicators. 
That decision was drew strong opposition from senior economic and financial officials, including Dejpasand and the Governor of Central Bank of Iran Abdolnasser Hemmati. Later the SEO was forced to withdraw the decision.  

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