Capital Markets Board chief and deputy finance minister step down on health grounds

Mahmut Sütcü, who has chaired the Capital Markets Board (SPK) since May after serving as its deputy since November 2024, tendered his resignation on Oct. 19, citing health concerns. Concurrently, Deputy Treasury and Finance Minister Osman Çelik filed a request to retire, asking that it take effect the same day, and sent the paperwork to Treasury and Finance Minister Mehmet Şimşek. Initial reports did not verify whether either request had been accepted. Sütcü's background includes deputy head of the Revenue Administration and leadership of tax offices in Ankara and Antalya. Çelik, appointed deputy minister on June 21, 2023, previously served as Treasury undersecretary and held chief executive positions at Türkiye Finans and Vakıf Katılım. The SPK is currently managing the liquidation of troubled investment funds pending parliamentary approval.