100 pitch in for BSE MD's post

The Bombay Stock Exchange (BSE) has received more than 100 applications for the post of managing director and chief executive officer (CEO) till date.

Manoj Vaish, the current managing director and CEO, had resigned on June 14 and will continue to be in office till September end.

However, BSE sources said Vaish may go on leave from September 15. This means that a new CEO will have to be selected by then, they added. There have been talks that senior BSE officials, including certain directors handling important portfolios, have applied for the post. But BSE officials were unavailable for confirmation.

In fact, a committee comprising senior Securities and Exchange Board of India official Jagdish Capoor; chairman of HDFC Bank Deepak Parekh; State Bank of India chairman A K Purwar; and Life Insurance Corporation of India chairman S B Mathur is also said to have received applications from a senior Unit Trust of India official, a senior official of the Inter Connected Stock Exchange among others. But the BSE spokesperson refused to confirm or comment on the same.

Sources said an official of Indian origin currently working with the NYSE has also applied and the committee is said to have interviewed him via videophone.

Vaish had earlier quit and told Business Standard that he has a couple of other options in hand, including setting his own business, or taking up an overseas assignment.

The BSE is the oldest stock exchange in the country but has faced intense pressure from a much younger National Stock Exchange.

Market players said the new CEO will have his hands full and will be under pressure to revitalise the bourse's fortunes.