New Delhi: The government Friday appointed ISB Hyderabad professor Krishnamurthy Subramanian as Chief Economic Adviser for a period of three years.

The post of CEA had been lying vacant since Arvind Subramanian left the finance ministry after a four-year stint earlier this year.

“The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser,” said a government notification.

His appointment will be for a period of three years, it said.

A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world’s leading experts in banking, corporate governance and economic policy.

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 serves 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 first bank to be licensed after independence in eastern India, the National Institute of Bank Management, and the RBI Academy.

Currently, Subramanian serves as Associate Professor of Finance (with tenure) and Executive Director for the Centre for Analytical Finance at the Indian School of Business, a top business school in India and the only Indian institution to be ranked in the world’s top 100 for path-breaking research.

He holds a PhD from the University of Chicago Booth School of Business. 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 Ltd., which at the time was India’s top project financing institution and one of the most sought-after recruiters in top Indian business schools.

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.