Bombay Stock Exchange (BSE) has received the nod to have a new Managing Director (MD) and Chief Executive Officer (CEO). As per updates, BSE will now have a new MD and CEO in Sundararaman Ramamurthy.
BSE’s new MD and CEO has been assigned the role after market regulator Securities and Exchange Board of India (SEBI) approved the appointment. In a regulatory filing, BSE also mentioned that the appointment of the new MD and CEO is subject to acceptance of the offer made to him and fulfilment of terms and conditions including approval from the shareholders.
In response to this filing, the SEBI, through a letter on November 28, has approved the appointment of Sundararaman Ramamurthy as the new MD and CEO of BSE. At present, the former Deputy Governor of the Reserve Bank of India (RBI) SS Mundra was the chairman of BSE.
Ramamurthy will now succeed Ashishkumar Chauhan, former MD and CEO of BSE. The new appointment comes more than four months after Chauhan resigned from the post, with effect from July 25. After his resignation, Chauhan was appointed as the MD and CEO of the National Stock Exchange (NSE).
According to a report in the Economic Times, Ramamurthy has previously served as the senior vice president of the NSE. However, after serving this role, he took up the position of the Chief Operating Officer (COO) at the Bank of America, India.