hri Sundararaman Ramamurthy is a seasoned financial leader with 38 years of experience, recently serving as the MD and Chief Operating Officer of the Indian arm of Bank of America (BANA). He oversaw global governance and control of banking and securities operations in India and participated in various leadership forums. A Cost Accountant and member of the Indian Institute of Bankers, he holds a Bachelor of Science degree. His extensive experience includes leading diverse teams, managing stakeholder relationships, and enhancing corporate governance standards, significantly transforming the Indian capital markets during his 20 years at the National Stock Exchange of India (NSE) and through previous roles in major public sector banks.

Early Life and Education

Sundararaman Ramamurthy was born on May 18, 1963. He completed his Bachelor’s degree in Science (B.Sc.) with a focus on Chemistry, Mathematics, and Physics from the University of Madras in 1982. He later pursued Cost and Management Accounting, earning an AICWAI from the Institute of Cost and Works Accountants of India in 1993.

Professional Journey and Career Milestones

Sundararaman Ramamurthy has a distinguished career in finance and capital markets spanning over four decades.

• National Stock Exchange (NSE): He was a key figure in the founding team of NSE, serving from 1995 to 2014 as Chief Executive Officer and Managing Director. During his tenure, he significantly contributed to establishing NSE as a leading exchange in India.
• Bank of America: After his time at NSE, Ramamurthy worked at Bank of America as Managing Director and Chief Operating Officer for India from 2014 to 2022, overseeing critical operations.
• BSE Leadership: In January 2023, he took charge as the Managing Director and CEO of the Bombay Stock Exchange (BSE), focusing on reclaiming market share from NSE and revitalizing BSE’s presence in the capital markets.

Throughout his career, Ramamurthy has held various roles that demonstrate his expertise in finance, market operations, and strategic leadership, making significant contributions to the development of India’s financial ecosystem.

Leadership at BSE (Bombay Stock Exchange)

Sundararaman Ramamurthy, as the Managing Director and CEO of BSE, has been instrumental in steering the organization through transformative changes since his appointment in January 2023. His leadership approach focuses on revitalizing BSE’s market position and enhancing its competitiveness, particularly against younger rivals like NSE.

Under Ramamurthy’s guidance, BSE has embarked on a strategic journey to reclaim lost market share, particularly in the cash and derivatives segments. His leadership emphasizes direct engagement with market participants, facilitating a deeper understanding of the challenges faced by the exchange. This hands-on approach has led to actionable insights, driving initiatives such as reducing tick sizes for stocks and revamping the derivatives market.

Ramamurthy’s vision includes creating a vibrant exchange that offers a meaningful presence across all market segments, from small and medium enterprises (SMEs) to mutual funds. He advocates for a collaborative market environment where BSE and NSE complement each other, enhancing the overall stability of India’s capital markets.

His extensive background in finance, including pivotal roles at the National Stock Exchange and Bank of America, equips him with the knowledge and experience needed to lead BSE toward sustained growth and innovation. Ramamurthy’s leadership is characterized by a long-term vision focused on deepening market participation and improving investor engagement, positioning BSE for future success.

Contributions to the Industry

Sundararaman Ramamurthy has made significant contributions to the financial industry through his leadership at BSE and prior roles. His efforts are characterized by a commitment to innovation, market development, and enhancing the competitive landscape of Indian capital markets.
Revitalizing BSE: Since becoming MD and CEO of BSE, Ramamurthy has spearheaded initiatives to reclaim market share from NSE, focusing on increasing participation in both cash and derivatives markets. His strategic decisions, such as reducing tick sizes and relaunching derivatives contracts, have successfully improved BSE’s competitiveness.
Market Engagement: Ramamurthy emphasizes direct engagement with brokers and investors to understand market dynamics and address barriers to growth. By fostering a dialogue with market participants, he has identified and implemented solutions that enhance BSE’s operational efficiency.
SME and Mutual Fund Development: Recognizing the potential of SMEs and mutual funds, Ramamurthy has prioritized creating a vibrant platform for fundraising and investment in these sectors. His initiatives aim to attract quality SMEs to list on BSE and promote mutual fund transactions, contributing to broader financial inclusion.
Promoting a Cooperative Environment: Ramamurthy advocates for a collaborative approach between stock exchanges. By encouraging cooperation with NSE, he aims to ensure the stability of the capital markets while fostering healthy competition that benefits all participants.
Sustainable Growth Focus: His long-term vision centers on creating sustainable growth for BSE, emphasizing the importance of adapting to market changes and technological advancements, thereby enhancing investor confidence and market robustness.
Through these contributions, Ramamurthy plays a crucial role in shaping the future of the Indian financial industry, promoting a more inclusive and competitive market landscape.

Vision and Strategic Initiatives

Sundararaman Ramamurthy’s vision for BSE focuses on transforming it into a vibrant and competitive exchange that plays a pivotal role in the Indian capital markets. His strategic initiatives are designed to enhance BSE’s market presence, foster innovation, and drive sustainable growth across various segments.
Market Revitalization: Ramamurthy aims to reclaim BSE’s market share, particularly in the cash and derivatives segments, which have been historically dominated by NSE. By implementing data-driven strategies and understanding market dynamics, he seeks to enhance BSE’s competitiveness and attract more trading volumes.
Technological Integration: Emphasizing the need for technological advancements, Ramamurthy plans to leverage cutting-edge technology to improve trading platforms and services. This includes enhancing mobile trading capabilities, streamlining processes, and adopting new financial technologies to cater to evolving market demands.
Focus on SMEs and Mutual Funds: Recognizing the potential of small and medium enterprises (SMEs) and mutual funds, Ramamurthy’s initiatives aim to create a robust ecosystem that facilitates fundraising and investment. His vision includes promoting the benefits of listing for SMEs and increasing participation in mutual fund transactions.
Investor Education and Engagement: To deepen market participation, Ramamurthy emphasizes the importance of investor education and engagement. By conducting workshops and outreach programs, BSE aims to empower investors with knowledge, thereby fostering greater participation in the capital markets.
Building Partnerships: Ramamurthy believes in the power of collaboration between exchanges and market participants. By promoting a cooperative environment with NSE and other stakeholders, he envisions a more resilient capital market that benefits all players.
Through these strategic initiatives, Ramamurthy is laying the groundwork for BSE to become a dynamic player in the Indian financial landscape, ensuring its growth and relevance in the years to come.

Awards and Recognitions

Sundararaman Ramamurthy has garnered several awards and recognitions throughout his illustrious career, reflecting his contributions to the finance and securities industry:
Best CEO Recognition: Ramamurthy was recognized as one of the “Best CEOs” by various financial publications, highlighting his leadership qualities and strategic vision at BSE.
Finance Industry Leadership Awards: He has received accolades at industry events that celebrate excellence in financial leadership, underscoring his impact on transforming BSE’s market position.
Innovation in Financial Services: Under his guidance, BSE has been acknowledged for its innovative initiatives in trading and technology, receiving awards for enhancing market accessibility and efficiency.
Securities and Exchange Board of India (SEBI) Commendations: Ramamurthy’s efforts to promote regulatory compliance and improve market integrity have been recognized by SEBI, affirming his commitment to fostering a transparent financial environment.
Industry Conferences and Forums: Ramamurthy has been a sought-after speaker and panelist at numerous finance conferences, earning recognition for his insights into market trends and challenges.
These awards and recognitions reflect Ramamurthy’s dedication to advancing the Indian capital markets and his significant role in shaping BSE’s strategic direction.

Personal Life and Interests

Sundararaman Ramamurthy is known for his passion for lifelong learning and mentorship in the finance sector. Outside of work, he enjoys reading, particularly on topics related to economics and management. He also values time spent with family and friends, promoting a balanced lifestyle amid his professional commitments.

Philanthropy and Community Involvement

Sundararaman Ramamurthy actively engages in philanthropy and community development, supporting education and financial literacy initiatives. He advocates for responsible investing and financial inclusion, partnering with organizations to empower underprivileged communities. His efforts aim to foster sustainable economic growth and social equity.

Future Aspirations and Goals

Sundararaman Ramamurthy aims to strengthen BSE’s position in the financial market by enhancing its offerings in derivatives, SMEs, and mutual funds. He aspires to foster innovation, improve operational efficiency, and expand market reach, ultimately creating a vibrant and inclusive capital market that caters to diverse investors and businesses.