India’s biggest asset management company (AMC) by assets, SBI Mutual Fund, on September 26 said it has elevated DP Singh to the post of joint chief executive officer.
Singh, 61, would now be deputy managing director and joint CEO of SBI Funds Management (SBI MF). He was earlier deputy managing director and chief business officer at the AMC.
The decision on the new CBO has not yet been made and the AMC will decide in due course of time.
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Meanwhile, Shamsher Singh would continue to be managing director and chief executive officer of SBI MF, and Denys de Campigneulles the deputy chief executive officer.
Campigneulles has been deputed from France-based Amundi Group, which holds 37 percent stake in SBI Funds Management (SBIFM) through a wholly-owned subsidiary, Amundi India Holding. The State Bank of India (SBI) owns the rest 63 percent stake in the AMC.
Singh has over 31 years of experience in banking and financial services industry and has been associated with SBIFM since 1998.
As deputy managing director and chief business officer he was responsible for all business verticals and segments of the organization.
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As per the fund house’s website, prior to joining SBIFM, he was with SBI where he handled various assignments in retail banking, corporate credit and information technology initiatives.
SBI MF had assets under management of Rs 8.25 lakh crore at the end of August 2023, making it the biggest fund house in India. The AMC had 66 percent of its assets invested in equity and 27 percent in debt.
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