Nov 29, 2022
By: bhakti.makwana@timesinternet.in
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Securities and Exchange Board of India (SEBI) has approved the appointment of Sundararaman Ramamurthy as the MD & CEO of India’s oldest stock exchange BSE.
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Ramamurthy’s last stint was with BofA Securities India (formerly known as DSP Merrill Lynch), a subsidiary of Bank of America Corporation, as non-executive director where he worked since 2015.
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Ramamurthy has worked with NSE for nearly 20 years under former CEOs Ravi Narain and Chitra Ramkrishna before leaving in October 2014.
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The 62-year old will replace Ashish Chauhan who had stepped down to join the rival stock exchange NSE.
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The top position at BSE had been vacant for four months after Ashishkumar Chauhan stepped down on July 25, to join the rival stock exchange NSE as MD and CEO.
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The stock exchange said in a regulatory filing that Ramamurthy's appointment is subject to acceptance of the offer made to him, and fulfillment of terms and conditions including approval from the shareholders.
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In the interim, BSE had decided that an executive management committee of the exchange would be running its affairs.
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Meanwhile, shares of Bombay Stock Exchange (BSE) were up 1.40 percent at 578.80 on Tuesday. The stock has dropped nearly 9 percent in 2022 so far.
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Established in 1875, BSE is among Asia's fastest stock exchanges, and has 3,499 stocks listed on it.
Credit: BCCL