New chair appointed to Turkey’s capital markets watchdog

ANKARA

Ali Fuat Taşkesenlioğlu, a former CEO of state lender Halkbank, has been appointed as the new chair of Turkey’s Capital Markets Board (SPK).

His appointment was announced after a cabinet decision on the Official Gazette on April 17.

The top position at the watchdog was empty since former chair Vahdettin Ertaş had completed his tenure early in 2018.

Taşkesenlioğlu started his banking and finance career at the Faisal Finance Institution in 1988. After serving as a chief specialist at Faisal Finance until 1996, he started working at Bank Asya, which was taken over by the state-run Saving Deposits Insurance Fund (TMSF) late in 2014 over its links to the Gülen movement, accused widely of orchestrating the July 15, 2016, coup attempt. The bank’s license was totally annulled in July 2016.

Taşkesenlioğlu served as an assistant manager of project marketing at Bank Asya. He later continued as manager of the Merter and Sultanhamam branches, followed by positions as division manager and deputy general manager of the lender’s loan allocation department.

In 2012, he was transferred to Vakıfbank and worked in senior positions at the lender until 2014.

He became the chief executive officer of Halkbank on Feb. 7, 2014, where he worked until June 8, 2017. He was appointed to this position after his predecessor Süleyman Aslan was arrested over bribery and corruption allegations as part of the Dec. 17, 2013 graft probe. Aslan was later released.