Udai Kumar

Last updated

Udai Kumar
Born (1960-03-18) 18 March 1960 (age 64)
Muzaffarpur, Bihar, India
Nationality Indian
Citizenship Indian
Education Patna University
University of Delhi
Occupation(s) Managing Director and CEO
Employer Metropolitan Stock Exchange of India Ltd
Spouse
Sapna Kumar
​
(m. 1986)​
Children2
Parent(s)Awadhesh Kumar (Father)
Kumud Kumar (Mother)
Relatives Navin Kumar (Brother)

Udai Kumar is the managing director and CEO of the Metropolitan Stock Exchange of India Ltd (MSEI) since February 2016. [1] [2] [3] MSEI is India's youngest and one of the three stock exchanges recognized by country's securities market regulator - Securities and Exchange Board of India (SEBI). Kumar served as Interim Chief Executive Officer and Interim Managing Director of Metropolitan Stock Exchange of India Ltd. from 10 October 2015 to February 2016. He has also served as managing director of Metropolitan Clearing Corporation of India Ltd (MCCIL) (Formerly, MCX-SX Clearing Corporation Ltd (MCX-SXCCL). He also serves as a Director of Metropolitan Stock Exchange of India Ltd. [4]

Contents

Early life and education

Kumar was born on 18 March 1960 – a son to Awadhesh Kumar and Kumud Kumar. He received his early education at Patna Collegiate School before graduating in physics with Honors from Patna Science College in 1980. He then went on to complete his master's degree in Physics from University of Delhi in 1982. He also completed his MBA from Birla Institute of Technology, Mesra, Ranchi. [5]

Professional career

He started his career as Probationary Officer at United Bank of India. He joined JM Financial & Investment Consultancy Services - a subsidiary of JM Financial Ltd. - in April 1993 as Manager and worked there till January 1999. He then joined JM Morgan Stanley as vice president in 1999. In 2007, he joined JM Financial Consultants as Director and worked on this position till 2009. [6]

He worked as executive director of Mefcom Capital Markets Limited - a capital market company in India - for almost a year in 2009 to 2010. In August 2010, he was appointed as Senior Vice President of Centrum Capital. After a short stint at Centrum he joined as Head of Equity Capital Markets at Fortune Financial Services in December 2010 and worked on this position till November 2013. [7] [8]

In December 2013, he joined Inter-connected Stock Exchange of India as Managing Director. From April 2015 to January 2016 he served as managing director of Metropolitan Clearing Corporation of India Ltd (MCCIL) (Formerly, MCX-SX Clearing Corporation Ltd (MCX-SXCCL). Kumar was appointed as Interim CEO and MD of MSEI on 10 October 2015 and full-time CEO and MD since February 2016. [9] [10]

The capital markets regulator SEBI had conducted a special purpose inspection of MSEI in February 2018 and in November 2022 has barred for six months from being associated with any market infrastructure institution or associated entities over multiple violations. [11]

Personal life

Kumar is married to Sapna Kumar and they have two children. He currently resides in Mumbai with his wife. His elder brother is Navin Kumar - Chairman of GSTN. [12]

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References

  1. ↑ Doshi, Ankit (23 February 2016). "MSEI appoints Udai Kumar as full-time MD and CEO" . Retrieved 27 August 2017.
  2. ↑ "Metropolitan Stock Exchange of India Ltd. :: Leadership Team". www.msei.in. Retrieved 21 August 2017.
  3. ↑ Shah, Palak (26 May 2017). "GMEX to buy 5% stake in Metropolitan Exchange". The Economic Times. Retrieved 27 August 2017.
  4. ↑ "Udai Kumar: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 21 August 2017.
  5. ↑ "Linkedin Profile".
  6. ↑ "Udai Kumar appointed as MD and CEO of MSEI ||Online Assessment Portal , Entire Assessment Portal" . Retrieved 21 August 2017.
  7. ↑ "Metropolitan Stock Exchange appoints Udai Kumar as MD, CEO". Business Standard India. Press Trust of India. 22 February 2016. Retrieved 21 August 2017.
  8. ↑ MSEI appoints Udai Kumar as MD & CEO
  9. ↑ Iyengar, Suresh P (10 December 2015). "Udai Kumar to take over as MD & CEO of Metropolitan SE". The Hindu Business Line. Retrieved 21 August 2017.
  10. ↑ "Udai Kumar is interim MD, Metropolitan SE". The Hindu Business Line. 12 October 2015. Retrieved 21 August 2017.
  11. ↑ "Sebi bars former MSEI MD&CEO for six months over multiple violations". Business Standard. 25 November 2022. Retrieved 12 March 2023.
  12. ↑ "MSEI appoints Udai Kumar as MD & CEO". The Hindu Business Line. 22 February 2016. Retrieved 27 August 2017.
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