Sebi promotes 2 senior employees as executive directors

Markets regulator Sebi has promoted two of its senior employees Amarjeet Singh and Nagendraa Parakh as executive directors.

With the new appointments, the total number of executive directors (EDs) stands at eight.

Other EDs are P K Nagpal, J Ranganayakulu, S Ravindran, S V Murali Dhar Rao, S K Mohanty and Ananta Barua, as per the regulator's website.

In addition, Sebi is planning to hire two executive directors to beef up its resources for faster and more effective execution of regulatory work.

The markets regulator, last week, invited applications for the post of EDs in general and legal streams. The appointments will either be on deputation or contractual basis, for an initial period of three years.

In a statement issued on 3 July, Securities and Exchange Board of India (Sebi) said Singh and Parakh took charge as executive directors on June 22.

In his new role, Singh will look after Market Intermediaries Regulation and Supervision Department, Department of Economic and Policy Analysis, and National Institute of Securities Market while Parakh will oversee Integrated Surveillance Department and Information Technology department.

Prior to his promotion as executive director, Singh was heading the front office of Sebi's chairman as his executive assistant and also the office of international affairs. In his earlier stint, he headed the Northern Regional Office of Sebi at New Delhi from 2005 to 2009.

Parakh was Chief General Manager at Sebi before his promotion.

-PTI