NSE, the world’s largest derivatives exchange, which is headed for IPO this year, said it is looking for a candidate who preferentially has led a company through an Initial Public Offering process or has an exposure in running a listed company, according to the advertisement notice published in newspapers on Friday.
National Stock Exchange (NSE), India’s largest bourse, is looking for a new boss. The stock exchange, which has been riddled in a probe due to ongoing governance issues, has invited applications for the position of Managing Director and Chief Executive Officer (MD & CEO) by March 25, 2022, according to a notice published Friday. This comes as the tenure of current MD & CEO Vikram Limaye is set to end in June. The prospective candidate must have at least 25 years experience of capital, financial and securities markets and with a minimum of five years experience in leadership roles.
The world’s largest derivatives exchange, which is headed for IPO this year, said it is looking for a candidate who preferentially has led a company through an Initial Public Offering process or has an exposure in running a listed company, according to the advertisement notice published in newspapers on Friday. The position will be based out of Mumbai, where NSE is headquartered and the candidate must not be older than 60 years, as of June 30, 2022.
The current chief Vikram Limaye led the organisation from July, 2017 and made the bourse frontrunner in derivatives trading from the last three years and helped it surpass US-based CME Group Inc. Limaye was appointed following the departure of Chitra Ramkrishna. At the time of Limaye’s appointment in 2017, he was proposed to get an annual remuneration of Rs 8 crore, nearly double the combined salaries of the CEOs of BSE and Metropolitan Stock Exchange of India (MSEI), according to media reports.
As the bourse heads to public markets in coming months, here are the requirements that are expected from the applicant:
- 25 years of experience; domain knowledge in various aspects of capital/securities/financial markets;
- Minimum 5 years at leadership level, preferably as a CEO in financial services sector;
- Must be abreast of relevant market developments, regulatory frameworks, product innovations and technology advancements in local and global capital market;
- Experience in engaging with diverse stakeholders like regulators, shareholders, business partners, customers, employees, and the Board;
- Exposure to operating in a publicly listed company or having led an organisation through an initial public offering (IPO) process will be an added advantage;
- A result oriented leader, persuasive and passionate communicator, with highest ethical standards
The candidate will have to mail their CV through management consultancy firm Korn Ferry. The application will be shortlisted by the Nomination and Remuneration Committee (NRC) of NSE, and the selection committee will recommend the names to NSE’s board. The decision of the board will then be submitted to the capital markets regulator SEBI, the notice said.