DSP BlackRock's Chief Investment Officer Anup Maheshwari puts in his papers

Anup Maheshwari, Chief investment officer-equities at DSP BlackRock Asset Management Company has put in his papers, three people aware of the development told Moneycontrol. One of them is a DSP BlackRock  insider, while the other two are outsiders.

Sources also told Moneycontrol that the senior management was trying to retain Maheshwari.

In a response to queries on the matter, a DSP BlackRock spokesperson said: "Anup continues to be with us as CIO equities."

If Maheshwari decides to move on, this would be the third senior level exit at DSP BlackRock AMC in under two years.

In 2017, S. Naganath, President and CIO, quit the fund house and joined Franklin Templeton Investments. The previous year, Dhawal Dalal, head-fixed income in 2016, quit and joined Edelweiss Mutual Fund.

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Assistant Editor|Moneycontrol.com

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If the market buzz is to be believed,  close to a dozen employees from the sales team have left the organisation in the last 2 years.

An alumnus of IIM Lucknow, Maheshwari had joined DSP BlackRock Investment Managers Pvt. Ltd. (previously called DSP Merrill Lynch Fund Managers) in July 1997.

He was managing the domestic funds since May 2001 to June 30, 2012.

Maheshwari had also worked as a CIO at HSBC Asset Management between Dec 2005 and May 2006 before returning to DSP BlackRock Investment Managers.

Between 1997 and 2000, Maheshwari also managed an offshore fund, the Merrill Lynch India Fund which was registered in Mauritius and sold to Merrill Lynch's clientele outside India.

Prior to joining DSP BlackRock Investment Managers, he worked with Chescor, a British fund management firm that managed three offshore funds investing into Indian equities.