Saravana Kumar is the new Chief Investment Officer, Equity & Debt while Nityanand Prabhu is the Chief Operating Officer.
LIC Nomura Mutual Fund AMC today announced the appointment of Saravana Kumar as the Chief Investment Officer - Equity & Debt and Nityanand Prabhu as the Chief Operating Officer, said a press release issued by the company.
Saravana Kumar has over 25 years of experience in the financial services industry. Prior to this, he was working with Trust Investment Advisors where he led the PMS function since January 2014. Prior to this, he was CIO & SVP at Tata AIA Life Insurance. He has also been associated with ICICI Bank, SBI Mutual Fund and UTI Mutual Fund in the investment function. Saravana is a BE in Electronics and Communication from Government College of Engineering and PGDM-Finance from IIM Bangalore.
The new chief operating officer, Nitayanand Prabhu has over 22 years. Prior to joining LIC Nomura, he was with ING Investment Management, handling the entire fund operations. Prior to this, he has also worked with ABN AMRO AMC, SUN F&C AMC and Canbank Investment Management Services. He is a Law graduate from Mumbai University.
Speaking on this development, Nilesh Sathe, Director and Chief Executive Officer of LIC Nomura Mutual Fund AMC said “The AMC has recorded an AAUM growth of 22% during the quarter ending March, 2015. We are currently strengthening our core team, geographical reach and product suite in order to offer choice of investments to our investors. These new appointments will also help achieve the objectives of the AMC.”
LIC Nomura currently manages Rs. 9,313 crore as on March 2015.
