While some among them may join other AMCs, others are planning on turning entrepreneurs
The mutual fund industry has witnessed a number of exits one after the other in the last three months. Satish Ramanathan, Director and Head of Equities, Sundaram AMC has quit and is said to be evaluating a few offers.
IDFC AMC has also witnessed exits of two senior officials – Tanwir Alam, Director - Retail sales and Tridib Pathak, Senior Director - Equities. Tanwir is expected to start his own business. Pankaj Gupta, a fund manager with L&T AMC has also put in his papers and is planning to start his own venture. Sanjeev Kumar who was Sales Head, L & T AMC has joined Srei Infrastructure early this month.
Arindam Ghosh, Vice President, Head Retail Sales, J P Morgan Asset Management has also put in his papers and is keeping his options open. Among others who have quit the industry are Sanjay Sachdeva (Tata AMC), Chaitanya Pande (ICICI Pru AMC), Nazish Ahmed (Taurus AMC), D. Ramanathan (Motilal Oswal AMC) and Girish Kalra (Mirae AMC).
“Most of those who have left the industry recently are turning entrepreneurs. It has been a tough phase for the fund industry and many of the senior officials are perhaps hoping to get better opportunities outside the industry,” said a senior official of the industry.
