Chief Executive Officer of Central Securities Depository of Iran, Hossein Fahimi, is elected Vice Chairman of Executive Committee of Asia Pacific Central Securities Depository Group (ACG).
The decision came during the 22nd ACG Annual General Meeting hosted by Central Depository Systems (Ltd.) of Sri Lanka, underway in the capital Colombo where the Executive Committee members unanimously voted in favor of the CSDI CEO during the committee’s internal meeting on Monday 26 November, 2018 and officially endorsed him for the position during the Annual General Meeting session with all member states on November 27.
Fahimi has become the ACG’s second vice chair. This comes after his predecessor, Aftab Ahmad Diwan, resigned from his position as CEO of CDC Pakistan.
The Executive Committee of ACG comprises of eight elite depositories of the region representing countries including China, India, Iran, Japan, Pakistan and South Korea.
The status is highly regarded as only two depositories from Asian region are present on the Board of World Forum Central Securities Depositories (WFC), which are Korea Securities Depository (KSD) whose CEO Lee Byungrhae is Chairman ACG Executive Committee and – as of now – Central Securities Depository of Iran (CSDI) as the vice chair.
Addressing the audience in his endorsement ceremony, Hossein Fahimi, expressed gratitude to the ACG EC members for throwing their weight behind his nomination for the position.
“I feel myself and my team [at Central Securities Depository of Iran] more committed to the road we share as one community with a common purpose to success,” Fahimi said to the gathering.
Asia Pacific Central Securities Depository Group (ACG) is a representative forum of all the depositories and clearing houses of the Asia-Pacific region. The group consist of 34 CSDs from 23 countries. ACG is also one of WFC’s five members, which is the global body of depositories and clearing houses, representing all the five regions, namely Asia, Europe, Middle East & Africa, Americas and CIS states.
The WFC conference is a global biennial event that offers an information sharing and networking platform for leaders of central securities depositories and clearing houses, regulators and custodians including international banks from across the globe.