Atef Yassin has been named the new head of the Egyptian stock market, a statement issued by the Investment Ministry said according to Reuters.
Yassin will succeed outgoing chief Mohamed Omran whose term ends in June.
The statement said the new head will start work before the end of the month while Ashraf Kamal al-Sayyed will be appointed deputy head of the stock market.
According to Reuters, Investment Minister Yehia Hamed nominated Yassin for the position.
Hamed met with Omran on Wednesday and commended his efforts over the past 2 years, the statement said.
Yassin obtained a masters degree in business administration and started his career in the Egyptian stock market in 1994, contributing several pieces of legislation and rules of operation at the institution.
Al-Sayyed, the deputy head of the stock market, embarked on a career in the stock market in 1986 and also holds a masters degree in business administration. He occupied several executive positions in the stock market, the last of which was vice president of the membership sector which he held from December 2011 up to now.
