Turkey's Borsa Istanbul appointed the head of Halk Investment, Murat Çetinkaya, to serve as its new CEO, effective June 8, the Hurriyet Daily News reported the same day.

Çetinkaya replaces Osman Saraç, who was named CEO on April 1, 2016. Çetinkaya has been a board member of the Turkish Capital Markets Association since May 2016, the newspaper noted.

Himmet Karadag will continue to chair the stock exchange, according to the report.