Chudamani Chapagain appointed as new CEO of Nepal Stock Exchange
KATHMANDU: The Nepal Stock Exchange (NEPSE) has a new Chief Executive Officer, with the government appointing Chudamani Chapagain to the top post. The decision was finalized during a Cabinet meeting on Monday, as confirmed by a minister privy to the discussions. Chapagain, hailing from Jhapa district, brings a wealth of experience from his long tenure at Sanima Bank and Sanima Reliance Life Insurance, positioning him as a seasoned professional in Nepal’s financial sector.
The appointment comes after a period of uncertainty surrounding the NEPSE leadership. Earlier, the Cabinet had selected Narad Kumar Luintel for the role, but the decision failed to receive certification from the Chief Secretary, halting his confirmation. Luintel, known for his involvement in the tourism industry, faced potential backlash over his nomination, with concerns raised about his suitability for the critical financial position.
This prompted the government to reconsider its choice, leading to Chapagain’s appointment. The NEPSE CEO position had remained vacant since February 8, 2025 (Magh 25), creating urgency to fill the leadership gap.
Chapagain’s appointment is seen as a move to stabilize and strengthen NEPSE, Nepal’s sole stock exchange, which plays a vital role in the country’s capital market. His extensive background in banking and insurance is expected to bring a pragmatic approach to addressing the challenges facing the exchange, including market volatility and the need for modernization. Stakeholders in the financial sector have expressed cautious optimism about his leadership, noting his track record in managing complex financial operations.
The vacancy in NEPSE’s top office had raised concerns among investors and analysts, especially amid ongoing efforts to bolster Nepal’s economic recovery. The stock exchange has been a focal point for domestic investment, and the CEO’s role is pivotal in ensuring transparency, efficiency, and investor confidence. Chapagain’s appointment is likely to be closely watched as he steps into this high-stakes position.
While the government has not officially detailed its reasons for reversing Luintel’s nomination, sources suggest that the decision reflects a preference for a candidate with a stronger financial pedigree over one with a diverse but less specialized background. The move underscores the Cabinet’s intent to avoid controversy and prioritize stability at NEPSE.
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