SEBI: Markets regulator SEBI on Monday approved the appointment of Sundararaman Ramamurthy as Managing Director and Chief Executive Officer (CEO) of stock exchange BSE. BSE said in a regulatory filing that the appointment is subject to acceptance of the offer made to them and other terms and conditions, including shareholders’ approval.
SEBI approved
The Securities and Exchange Board of India (SEBI) has approved the appointment of Ramamurthy through a letter dated 28 November. Ramamurthy’s name has been approved by Sebi after Ashish Kumar Chauhan resigned as Managing Director and CEO of BSE on July 25, about four months ago.
Started career in 1987
Ramamurthy is currently serving as the Managing Director and COO of India at Bank of America NA since 2014. He started his career with State Bank of India in 1987 as a Probationary Officer and worked his way up to becoming Senior Vice President at National Stock Exchange.
These two were also contenders for the post
V. Balasubramaniam, Managing Director (MD) and Chief Executive Officer (CEO) of India INX, a subsidiary of BSE in GIFT City, and Mrigank Paranjpe, MD and CEO of NEML, were also top contenders to head BSE.
The post was vacant since July
In July, former BSE chief Ashish Kumar Chauhan resigned as the Managing Director and CEO of BSE and was relieved of his roles and responsibilities at the exchange. After which the search for top vacancies started in the exchange. Let me tell you, Chauhan is currently the MD & CEO of National Stock Exchange, India’s largest stock exchange.
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