Shaheryar Chishty
Shaheryar Chishty | |
|---|---|
| Born | Karachi, Pakistan |
| Occupation(s) | Entrepreneur, ex-international banker |
| Known for | Proprietor of Daewoo Express, CEO of Asia Pak Investments, acquisition of K-Electric |
Shaheryar Chishty is a Pakistani ex-international banker and entrepreneur known for his significant involvement in Pakistan's energy industry. He is the proprietor of Daewoo Express and holds the position of CEO at Asia Pak Investments.
Early life and education
Originating from Karachi within a military household, his father Arshad Munir served in the Pakistan Navy and retired with the rank of rear admiral. Chishty completed his schooling at Karachi Grammar School and pursued a degree in economics at Ohio Wesleyan University.
Career
Chishty initiated his professional journey at KASB Securities before relocating to Hong Kong in 1997 to enter investment banking with Salomon Smith Barney, a subsidiary of Citigroup. During his tenure at Citi, he occupied high-level positions such as Head of Asia Industrials Investment Banking and Head of North Asia Mergers & Acquisitions.
Between 2009 and 2011, he was employed by Nomura International in Hong Kong, serving first as Asia Head and subsequently as Global Head of Industrials Investment Banking. Throughout an 18-year career in investment banking, he provided advisory services on mergers and acquisitions totaling more than $60 billion and facilitated capital raising exceeding $18 billion.
K-Electric
In 2023, Chishty completed the acquisition of K-Electric, Pakistan’s only fully integrated utility provider, transferring ownership from the Abraaj Group to AsiaPak Investments through a Cayman Islands-based transaction. He had been observing K-Electric’s performance for over ten years prior to this purchase.
Controversies
A legal conflict has emerged involving Ernst & Young (EY) and Infrastructure Growth and Capital Fund (IGCF) SPV 21, a Cayman Islands entity under Shaheryar Chishty’s control. The dispute centers on the recent removal of a director from the board of KES Power Ltd, the parent company of K-Electric (KE).