Chitra Ramkrishna to take over as NSE chief

Narain will remain with the NSE as vice-chairman of the board, a post created by the exchange to accommodate him

Chitra Ramkrishna (49) will take over the reins of the National Stock Exchange (NSE) on April 1, 2013, from the current managing director (MD) and chief executive officer (CEO), Ravi Narain. Ramkrishna is the joint MD of NSE and has been with India’s largest equity trading venue since its inception in 1992.

Narain (57) will remain with the NSE as vice-chairman of the board, a post created for the first time by the exchange to accommodate him. Narain was deputy MD of the NSE for the first six years since 1992 and the MD and CEO for over 12 years now.

The NSE, currently among the top 20 global exchanges in terms of market capitalisation, was incorporated in 1992 and received recognition as a stock exchange in 1993. It is the country’s top bourse after equity derivative operations were launched on its platform in 2000. The exchange has a market capitalisation of around $1 trillion and over 1,600 listed companies.

NSE’s derivative segment, which has an average daily turnover of nearly Rs 1,50,000 crore and 80 per cent market share, was developed under Narain’s leadership. Also, the exchange’s distribution saw a significant growth as it currently reaches out to over 1,500 towns and cities in India via 2,00,000 trading terminals.

Prior to joining the NSE, both Ramkrishna and Narain were with IDBI Bank, a promoter of the NSE.

Ramkrishna holds a degree from the Chartered Institute of Management Accountants, UK, and is also a member of the Institute of Chartered Accountants of India. Apart from the NSE, she also holds senior positions in other companies promoted by the exchange. Ramakrishna was part of the committee on financial sector reforms headed by Raghuram Rajan in 2008.

Narain has a degree in economics from Cambridge University, UK and a degree in business administration (finance) from the Wharton School, University of Pennsylvania, US.