Muhammad farid Alam

Mr. Farid Alam has over 20 years of experience in the financial sector. Before joining AKD Securities as Deputy CEO in 2007, he was working first as the Head of Mutual Funds Division and then as the Head of Treasury at Pakistan Industrial Credit and Investment Corporation (PICIC) where he was involved in first buy out of state-owned mutual funds by the Privatization Commission and thereafter in managing the funds. He also spearheaded mergers of 13 closed end funds into one fund by identifying and adopting the shortest legal course eliminating courts involvements. Under his dynamic leadership, the Net Asset Value (NAV) of the funds grew at a very healthy pace beating KSE- 100 index and other parameters set by the management. Mr. Alam gauged the appetite of the market and raised over Rs. 3.4 billion through right issues by first convincing the management, board of directors and then the investors, which was a new trend in the mutual fund industry.

Mr. Alam also reorganized ICP SEMF under NBFC Rules 2003 and managed floatation of two new funds.

Mr. Alam acted as the Domestic Consultant for Asian Development Bank on Financial Sector Intermediation Loan (FSIL), during 2004. The assignment included review and reporting on various policies and procedures agreed by the Government of Pakistan with ADB. These related mainly to monetary policy, foreign exchanges, money and capital markets.

Before joining PICIC, he was the Head of Finance and Secretary to the Executive Committee and Board of Directors at CIRC, Government of Pakistan where he was actively involved in remedial banking. He paved the way for Government institutions to place their funds with private sector banks meeting certain criteria which not only enhanced the income of the corporation but also cleared the hurdle for other organizations once for all.

He has extensive investment banking experience which he gained during 10 years of his stay with Crescent Investment Bank Limited-the first investment bank in Pakistan, where he served in various capacities including Treasurer, Equity Strategist, Chief Financial Officer and Manager Corporate Finance. He also managed clients portfolio of over PKR 3 billion.

Mr. Alam is a fellow of Chartered Accountants (FCA) and serves on various Committees of the Institute of Chartered Accountants including a high powered Economic Advisory Committee.