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Metropolitan Stock Exchange appoints Udai Kumar as MD, CEO

Press Trust of India  |  New Delhi 

Metropolitan Stock Exchange of has appointed Udai Kumar as its Managing Director and Chief Executive Officer after receiving necessary approval from the markets regulator Sebi.

He will focus on repositioning of the exchange and differentiated products, a company statement said today.

The Sebi's approval comes after a stringent shortlisting process and interviews by the selection committee to select a suitable candidate for the role.

In October, the exchange, formerly known as Stock Exchange (MCX-SX), had appointed Kumar as interim CEO and MD following resignation by Saurabh Sarkar.

Prior to this, Kumar was the MD of Metropolitan Clearing Corporation of Limited.

Kumar has over two decades of experience in stock exchange administration, capital markets, fund raising, restructuring and mergers and functions. H has worked with JM Financial, JM Morgan Stanley, and Financial.

"With his vast experience and leadership skills, I am sure he will be able to consolidate the exchange's business, put in place the necessary business restructuring and chalk out a new growth phase in various market segments," MSEI Chairman Thomas Mathew T said in a statement.

MSEI is the third of the country with licenses to operate in equity, equity derivatives, debt, currency derivatives and interest rates derivatives.

"I am looking forward to contributing to the growth of the exchange by focusing on repositioning of the exchange and differentiated products in our existing and new segments, implementing revamped business plan and addressing members' needs. Technology, investor-centricity and knowledge base shall continue to be business mantras," Kumar said.

First Published: Mon, February 22 2016. 16:57 IST