MF CEOs on the move

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

Mutual Fund CEOs are on the move. Not just one or two, but 14. Many have moved to competition in the past 18 months

Sanjay Sachdev, former Managing Director of Principal PNB, is believed to be setting up a venture with a Japanese bank. Krishnamurthy Vijayan of JM Mutual, now heads JP Morgan. Rajnish Narula former Managing Director of Alliance Capital is now MD of DBS Cholamandalam MF.

Ajay Bagga, former CEO of Kotak Mutual Fund, now heads Temasek's asset management venture, Lotus. And SV Prasad, managing director of Birla Sunlife, is said to be in talks with Bharti Tele's mutual fund venture with France's Axa.

While some have quit their jobs others have simply moved upward. Amitabh Chaturvedi, former CEO of Reliance MF now heads the group's financial services business. And Shashi Krishnan, former CEO of Cholamandalam has moved to its JV partner, DBS in Singapore. MV Suryanarayan, ex-CEO of LIC Mutual Fund is now Executive Director at LIC.

Some CEOs simply ran out of time. PGR Prasad, SBI's CEO, retired recently and DSR Murthy, Executive Director of UTI MF took a 'special separation package'. R Balakrishnan former CEO of Sahara Mutual Fund has now gone solo. Besides, a few have risen to head funds or entered the industry.

They are Sandesh Kirkire of Kotak Mutual Fund, ex-Citibanker, Vikrant Gugnani, who is President Reliance MF, UK Sinha of UTI Mutual Fund, Jimmy Patel former COO and now CEO of JM Mutual Fund, Saurabh Santhalia, head business development at DSP Merrill Lynch MF now head of AIG MF and Mohan Raj, the new CEO of LIC MF.

With global firms like France's Axa and Korea's Mirae Asset Management lining up to set up fund houses and private equity funds and investment banks making a beeline for India, the churn is expected to continue for a few months.

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