Published On: Sun, Feb 9th, 2014

MCX-SX Appoints Saurabh Sarkar as New MD & CEO

Saurabh Sarkar, Managing Director and Chief Executive Officer, MCX-Sx

Saurabh Sarkar, Managing Director and Chief Executive Officer, MCX-Sx

Following the approval from the Securities and Exchange Board of India (SEBI), MCX Stock Exchange (MCX-SX) has appointed Mr Saurabh Sarkar as Managing Director and Chief Executive Officer (MD & CEO). After the selection process that followed a stringent interview and short-listing procedure, Mr Sarkar has taken over the reins of the Exchange.

Mr Sarkar comes with rich experience of over 18 years and in his prior assignment, he was the Managing Director and CEO at United Stock Exchange of India Ltd. In his earlier assignments he has worked with leading firms such as Credit Agricole CIB, Calyon, Standard Chartered Bank and ANZ Grindlays Bank. An expert in the financial markets industry, he has keen insight on current needs of Indian Capital Market and areas of development.

Speaking about the appointment, Mr. Gopal Krishna Pillai, Chairman, MCX-SX, said, “We welcome Mr Saurabh Sarkar on board. Since the last few months, our focus has been to ring-fence the Exchange and protect interest of investors and members. Having successfully achieved this task appointment of a professional CEO was the next logical step to put the Exchange on firm ground. We are confident that Mr Sarkar will ensure the much needed all-around growth for MCX-SX and the Board will continue to give guidance and all the required support.”

Mr Saurabh Sarkar, MD&CEO, MCX-SX said, “I thank the MCX-SX Board and the regulator for their confidence in me and trusting me with the challenging task of leading MCX-SX. My focus will be on ensuring overall growth of the Exchange by reinstating confidence and trust among members, attracting participation from institutional investors, making MCX-SX the preferred destination for listing of shares and eventually in the process, creating a healthy balance sheet. The starting point is to improve participation and volumes and this is very much possible to achieve, given our strong fundamentals.”

In November, Mr. GK Pillai and Mr. Thomas Mathew T. were appointed the Chairman and Vice-Chairman respectively. Mr. Pillai, IAS (Retd.) was former Home Secretary to the Government of India while Mr. Mathew retired as Current-in-Charge Chairman of Life Insurance Corporation of India. Other members of the Board include Public Interest Directors —Prof. (Mrs.) Ashima Goyal, Professor at the Indira Gandhi Institute of Development Research and Mr. D.R. Dogra, MD & CEO – Credit Analysis and Research Limited. Mr. U. Venkataraman is CEO – Debt Segment & Whole-time Director (Shareholder Director) at MCX-SX.

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