Home / Markets / Stock Markets /  India INX MD, former MCX chief lead race for BSE top job

MUMBAI : V. Balasubramaniam, managing director (MD) and chief executive officer (CEO) of India INX, a BSE subsidiary at Gift City, and NemL MD and CEO Mrugank Paranjape are the top contenders to head BSE, according to two people aware of the development.

Balasubramaniam was second-in-command at BSE when Ashishkumar Chauhan was the MD and CEO. Chauhan now heads rival NSE. A broker Mint spoke to said Balasubramaniam had the “right mix of aggression and quality" to lead the exchange. He has served as the chief business officer of BSE, overseeing business development across segments such as equity, equity derivatives, debt, and mutual fund distribution.

Balasubramaniam has more than three decades of experience in capital markets. He was part of the core team that set up NSE and was also instrumental in creating the Nifty index.

Paranjape headed India’s largest energy and metals exchange MCX between 2016 and 2019. Earlier he was the India head of DB Centre of Deutsche Bank and held various leadership positions with ICICI Prudential AMC. An alumnus of the Indian Institute of Technology Mumbai, Paranjape also holds a degree from the Indian Institute of Management Ahmedabad.

BSE suggested the names to the Securities and Exchange Board of India a month ago and the regulator is likely to soon approve one of the names.

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