Business NEWS

Madhu Kannan new MD, CEO of Bombay Stock Exchange

By Amarendra Bhushan for CEOWORLD Magazine Updated:May 11, 2009

Madhu Kannan has been appointed the new managing director & chief executive officer (CEO) of the Asia’s oldest stock bourse, Bombay Stock Exchange.

“Kannan joins BSE at a time when the exchange business has assumed global dimensions and his experience and international perspective will bring in a lot of value to BSE,” BSE Chairman Jagdish Capoor said in a statement.

“I am honoured and excited to have the opportunity to lead Bombay Stock Exchange in the new global financial era,The Exchange has been the centre of Indian financial markets since 1875 and I look forward to ensure that BSE continues to build on its brand, history, and market position to create value for its stakeholders and the financial system,..” Kannan said.

Kannan joined the BSE from Bank of America-Merrill Lynch where he was a managing director in the corporate strategy group, the stock exchange said on its Web site.

The post of CEO has been lying vacant ever since its Managing Director, Rajnikant Patel, resigned in August last year, due to alleged inter-board differences over management issues. Mahesh Soneji, Chief Operating Officer, has been looking after routine affairs of the exchange.

Kannan joined Merrill Lynch in March 2008 as a managing director (strategy and business development). In this role he focused on the development and execution of key strategic initiatives for Merrill Lynch in the emerging markets of Asia and Middle-East & North Africa (MENA) and the Global Sovereign Wealth Funds Group.

Prior to Bank of America-Merrill Lynch, Kannan was senior vice president at NYSE Euronext. During his stint at NYSE Euronext, he has served in various senior roles across a range of businesses including vice president, corporate client group, head of international listings (Asia Pacific Region), and managing director, International Strategy and Business Development of the exchange.

Kannan earned his undergraduate degree B.E. (Hons.) in Electrical and Electronics, M.Sc (Hons.), in Economics from BITS, Pilani, India and an MBA in Finance from Vanderbilt University, USA.

Kannan was nominated as a Young Global Leader in 2007 by the World Economic Forum (WEF), based in Geneva, Switzerland.

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