National Securities Depository Limited (NSDL) has shortlisted two candidates including Sanjeev Kaushik, additional secretary in the Finance Ministry, as CEO of the depository company promoted by NSE.
Priya Subbaraman, Chief Regulatory Officer at National Stock Exchange (NSE), has also been shortlisted for the position of managing director and CEO of NSDL, sources said.
Subbaraman is part of board as shareholder’s director as per the NSDL website.
Set up in 1996, NSDL provides infrastructure that handles most of the securities held and settled in dematerialised form in the Indian capital market.
The nomination and remuneration committee (NRC) of NSDL has recommended the two names to market regulator Securities and Exchange Board of India (Sebi), sources said.
Sebi is likely to take a final call on appointment soon, sources added.
Current NSDL MD and CEO GV Nagesh Rao has been serving since 2013, and is currently on extension.
Sanjeev Kaushik is a 1992 batch IAS officer of Kerala cadre. He is an MBA from London Business School, he served as Director, Capital Markets in the Department of Economic Affairs between 2011 and 2015. He has worked in the capital market divisions of HSBC and Lehman Brothers in Mumbai, and served as vice president UTI Securities Ltd.
He was earlier shortlisted for position member of Sebi.
Subbaraman is a law graduate and a company secretary who has worked as a senior compliance officer with Kotak Securities, Kotak Bank, and Standard Chartered Bank.