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The Board of MCX has decided to promote the senior management team at MCX with effect from April 1, 2008. Accordingly, Mr. Jignesh Shah, Managing Director and CEO of MCX will now assume charge as Vice Chairman of MCX and NSEL and Mr. Joseph Massey and Mr. Anjani Sinha, both, who are original members of the three member MCX co-founding team are being promoted whereby Mr. Joseph Massey who is now the Deputy Managing Director will assume charge as Managing Director and CEO of MCX and Mr. Anjani Sinha who is now a Director of MCX will assume charge as Managing Director and CEO of National Spot Exchange Ltd. (NSEL).
Recently New York Stock Exchange (NYSE Euronext), Merrill Lynch group, Citigroup, ICICI group, IL&FS group, and Kotak group has become shareholders of MCX. The other shareholders of MCX are Alexandra Mauritius Limited, Bank Of Baroda, Bank Of India, Bennet Coleman & Co. Ltd., Canara Bank, Corporation Bank, Fid Fund (Mauritius) Limited, Financial Technologies (I) Ltd., GLG Financials Fund, HDFC Bank Limited, ICICI Lombard General Ins. Co. Ltd, National Bank for Agriculture & Rural Development, National Stock Exchange Of India Ltd., New Vernon Pvt. Equity Limited, Passports India Investments (Mauritius) Limited, SBI Life Insurance Co. Ltd, State Bank Of Hyderabad, State Bank of Bikaner & Jaipur, State Bank of India, State Bank Of Indore, State Bank of Mysore, State Bank Of Patiala, State Bank Of Saurashtra, State Bank of Travancore, Union Bank Of India.
Mr Massey has over 20 years of experience in financial sector which includes, LIC, RBI, SHCIL, Vadodara Stock Exchange and as also Managing Director of Inter-connected Stock Exchange Ltd. (ISE). Mr. Sinha has over 18 years of experience and he was the Executive Director of Ahmedabad Stock Exchange and Bombay Commodity Exchange before joining the group. These promotions are in line with the long term succession planning strategy and the best corporate governance practices followed by the group.
Besides the above promotions, Mr. Dipak D Shah has been appointed as Chief Market Operations Officer with MCX. Mr. Dipak has professional experience of over 20 years in various organizations like, United India Insurance Company, GIC Mutual Fund and as Executive Director of Ahmedabad Stock Exchange. Before joining MCX he was working as MD and CEO of OTC Exchange of India for a year.
Mr. KRCV Seshachalam has been promoted to the position of a Chief Regulatory Compliance Officer of MCX. Mr. Seshachalam comes with a professional experience of over 20 years in prestigious organizations like Bank of Maharashtra, and Canara Bank. Before joining MCX he was working with Securities and Exchange Board of India (SEBI). He was associated with SEBI for 9 years. MCX voluntarily and as a matter of best corporate governance has decided to ensure that the Chief Regulatory Compliance Officer will also report to the Board as well as to the regulator.
Mr. Nayan Mehta has been promoted to the position of Chief Finance Officer of MCX. Mr. Mehta has over 20 years experience of working with leading organization like Citibank NA, Times Guaranty and Vatsa Finance. Before joining MCX he was working with National Stock Exchange – NSE as Asstt. Vice President. He was associated with NSE for 14 years.
Mr. Parag Jain has been promoted as Chief of Membership & Inspection. Mr. Jain comes with a wide experience of over 18 years from leading organizations. He has worked with Industrial Development Bank of India (IDBI) and before joining us he was working as deputy general manager with Securities and Exchange Board of India (SEBI). He was associated with SEBI for 13 years.
