The pan Indian stock brokers’ body, the Association of National Exchanges Members of India (ANMI), has announced that R.M.C.V. Prasada Rao is now its new President. Naresh Tejwani, would serve as the Alternative–President of ANMI.
The appointments became official from April 1, 2013, according to a statement from the organisation.
Rao is the Managing Director of R.L.P. Securities Pvt. Ltd. and R.L.P. Commodity & Derivatives Pvt. Ltd. He will be based out of ANMI’s Hyderabad office.
He comes in place of Rakesh Somani, Director at Eureka Stock & Share Broking Services Ltd. who was President in FY 2012-13.
Rao made mention of the distress in the broking industry.
“I am extremely honored to have been chosen as President to lead ANMI in the current tumultuous phase in the Broking Industry. I will be striving hard to ensure that the members’ confidence in me is justified from the very outset,” he said in a media statement.
Rao has a Ph. D in Statistics from Andhra University and 22 years of experience in the Stock Broking business.
Naresh Tejwani, is Director and chief executive officer at Satco Capital Markets Ltd. He will be based out of the Association’s Mumbai office.
He has formerly been Chairman of the Western India chapter of ANMI.
ANMI presently has nearly 850 Market Intermediaries Firms as its members.
