Hyderabad: The government on Friday appointed ISB Hyderabad Associate Professor of Finance (with tenure) and executive director for the Centre for Analytical Finance Krishnamurthy Subramanian as chief economic adviser (CEA) for a period of three years. The post of CEA had been lying vacant since Arvind Subramanaian left the Finance ministry after a four-year stint in July this year.
“The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Professor and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser,” said a government notification.
Subramanian is Ph D (Financial Economics) from Booth School of Business, University of Chicago, and did his MBA (Finance) from Indian Institute of Management (IIM) Calcutta and B Tech (Electrical Engineering) from Indian Institute of Technology (IIT), Kanpur. He is one of the world’s leading experts in banking, corporate governance and economic policy. He taught at ISB- Corporate Control, Mergers and Acquisitions, and Investment Analysis.
His services on the expert committees on Corporate Governance for the Securities and Exchange Board of India (SEBI) and on Governance of Banks for The Reserve Bank of India (RBI) have established him as one of the chief architects of corporate governance and banking reforms in India. He served as a member of SEBI’s Standing Committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research. As part of his corporate policy work, he serves on the boards of Bandhan Bank, the National Institute of Bank Management, and the RBI Academy.
His research in banking, law and finance, innovation and economic growth, and corporate governance has been published in the world’s leading journals, including The Review of Financial Studies, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and the Journal of Law and Economics.
Before beginning his academic career, Subramanian worked as a consultant with JPMorgan Chase in New York. He also served in a management role in the elite derivatives research group at ICICI.
Because of his work in shaping the Indian banking sector and other path-breaking research with a significant societal impact, Subramanian was named ISB’s inaugural Alumni Endowment Research Fellow in 2014.
Even while still earning his MBA and PhD, he produced award-winning work. Subramanian’s PhD dissertation earned the Ewing Marion Kauffman Foundation Dissertation Fellowship, which recognises the top 15 PhD dissertations across all disciplines every year. While earning his MBA at the Indian Institute of Management in Calcutta, he was named to the Honour Roll of the Institute for being a top ranker in the batch and was awarded the Institute’s coveted medal for the most balanced outlook to business problems. He holds a bachelor’s degree in Electrical Engineering from the Indian Institute of Technology in Kanpur.
In previous academic roles, Subramanian served on the finance faculty at Goizueta Business School at Emory University in the United States. He obtained his MBA and PhD in Financial Economics at the University of Chicago Booth School of Business under the advice of Professor Luigi Zingales and Professor Raghuram Rajan.
His own students and research associates have gone on to join the world’s top PhD programmes, including Chicago Booth, MIT Sloan, Kellogg, Berkeley, London Business School, Duke and Emory universities.