The board of Bombay Stock Exchange (BSE) has appointed Madhu Kannan as managing director & chief executive officer (CEO). This comes nine months after Rajnikant Patel quit as the CEO of the exchange in August last year due to differences over management issues.
Prior to his appointment, he was a managing director (corporate strategy) with Bank of America-Merrill Lynch based in New York. Kannan also held various senior roles across businesses at the NYSE Euronext.
On his appointment, Kannan said: "I am honoured and excited to have the opportunity to lead the 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 the BSE continues to build on its brand, history, and market position to create value for its stakeholders and the financial system."
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.
He was nominated as a Young Global Leader in 2007 by the World Economic Forum (WEF), based in Geneva, Switzerland.