DSE appoints Asadur Rahman as acting managing director

The Dhaka Stock Exchange (DSE), the country's premier bourse, has appointed its Company Secretary Asadur Rahman, as the acting managing director.

According to a DSE source, prior to assuming the new role, Asadur Rahman was promoted to chief operating officer by the DSE board.

Previously, Sattique Ahmed Shah, chief financial officer of the DSE, had been serving as acting managing director. However, his contractual appointment expired on 29 June.

The DSE's managing director position has remained vacant since ATM Tariquzzaman resigned in May 2024 to join the Bangladesh Securities and Exchange Commission (BSEC) as a commissioner.  Later in September last year, the government removed him from the BSEC post.

Since then, the top leadership role at the DSE has been vacant, with Sattique Ahmed Shah temporarily carrying out dual responsibilities as both chief financial officer and acting managing director.

In November last year, the DSE issued a job circular seeking candidates for three top executive positions: managing director, chief technology officer, and chief operating officer. However, the recruitment process has yet to conclude.

A senior DSE shareholder, speaking on condition of anonymity, said since the demutualisation of the exchange, only KAM Majedur Rahman has served a full term as managing director, which lasted three years. "No one since then has completed their tenure," he added.

He further said, "Due to ongoing conflicts between DSE shareholders and the board on various issues—and the lack of protection or mediation from the regulator—no managing director has been able to serve a full term."

"Although ownership and management are officially separated at the DSE, in reality, a power struggle continues between the two sides. As a result, many qualified candidates are discouraged from applying for the managing director position," he said.