Economy, Business And Markets

New Chairman at TSE Board of Directors

New Chairman at TSE Board of DirectorsNew Chairman at TSE Board of Directors

Tehran Stock Exchange’s board of directors has got a new chairman and vice chairman. Representatives of majority shareholders in the company also extended Chief Executive Hassan Qalibaf-Asl’s term for two more years, according to Ali Sahraei, TSE’s head of markets as reported by Boursepress. Qalibaf-Asl has run Iran’s main equity exchange since 2008. Since then, TSE’s equity market has grown to over $90 billion, owed to a wave of privatization by the government. The executive presided over TSE’s expansion into debt securities and proliferation of mutual funds, including exchange-traded funds. Esmaeil Fadaei-Nejad from Bank Tejarat was voted the new chairman of the exchange’s board of directors, replacing Mehdi Qomi, formerly of Mellat Bank. TSE also got a new vice chairman, Amin Tafreshi, who replaced Ali Yar-Salehi.

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