New Senior Level Appointments at Bombay Stock Exchange
Bombay Stock Exchange today announced the following appointments to strengthen its senior management structure.
James E. Shapiro has been appointed head of Market Development of the Exchange, effective July 01, 09. Mr. Shapiro is an Exchange industry veteran with deep experience in Asian capital markets. Most recently, Mr. Shapiro was Senior Managing Director of Galileo Global Advisors, a boutique investment bank in New York focused on cross-border M&A advisory. At Galileo, Mr. Shapiro’s clients included several global Exchanges. Prior to Galileo, Mr. Shapiro was at the New York Stock Exchange (NYSE) for 16 years in a number of senior management roles. Mr. Shapiro also opened the first NYSE offices in Asia in Tokyo and Hong Kong and has been involved in the Indian capital markets since 1997. Mr. Shapiro has a B.A. from Harvard University and an M.A in economics from Yale University.
Dr. Sayee Srinivasan, PhD., has been appointed head of Product Strategy, effective July 01, 09. Dr. Srinivasan, will be joining from the Chicago Mercantile Exchange (CME) Group, where he was Director, Asian Product and Market Development, based in Mumbai. He has over 10 years experience in developing products across multiple asset classes including equities, interest rates, corporate bonds, and foreign Exchange. In addition to his experience at the CME, Dr. Srinivasan worked at the National Stock Exchange of India, on derivatives market development, and at OptiMark Technologies in the US, developing electronic trading systems. Dr Srinivasan has his undergraduate degree from Bombay University and a Ph.D in Economics from the University of Texas at Austin.
Nehal Vora has been appointed head of Planning and Policy, effective July 23. Mr. Vora has most recently been Director, Law & Compliance at DSP Merrill Lynch Ltd. covering equities and investment banking compliance. Prior to that Mr. Vora was employed with the Securities and Exchange Board of India (SEBI) in various functions including the Derivatives and New Products Department, covering policy, product and process innovation in areas of derivatives, implementation of T+2 rolling settlement, system of Straight Through Processing for the institutional trades. Mr. Vora has 13 years experience in the securities market including 10 years at SEBI. He has graduated in management (MMS - Finance) from NMIMS, Mumbai.
Commenting on the appointments, the MD & CEO Madhu Kannan said “James, Sayee and Nehal bring a wealth of expertise and experience to augment the existing management team. Together we believe we have the appropriate combination to take BSE on its strategic drive to reposition itself in the rapidly developing Indian financial markets”.
About BSE:
Bombay Stock Exchange is the oldest stock Exchange in Asia and has played a pre-eminent role in the development of the Indian capital market. Earlier an Association Of Persons (AOP), BSE is now a corporatised and demutualised entity, with two leading global Exchanges, Deutsche Börse and Singapore Exchange, as its strategic partners.
BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and training. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, support the growth of the market in India, and stimulate innovation and competition across all market segments.
Kalyan S. Bose
Head – Corporate Affairs
June 30, 2009
