Barely four months after he joined, Oliver Bilal, Chief Executive Officer of Baroda Pioneer MF has quit the fund house last month, confirmed sources at the fund house.
Oliver is moving to Europe to pursue another opportunity outside the firm, said a press release issued by the fund house.
Before joining Baroda Pioneer MF, Oliver was the Managing Director of Pioneer Investments in Germany.
Baroda Pioneer was scouting for a CEO for quite some time after the exit of Jaideep Bhattacharya in July 2014. After Jaideep’s exit, Kiran Deshpande (Chief Operating Officer, BPAMC) and Mahmood Basha (Head of Sales, Baroda Pioneer AMC) were jointly leading the Baroda Pioneer AMC operations working closely with Jack Lin, Head of Asia and Middle East for Pioneer Investments, who is also Chairman of Baroda Pioneer AMC.
Sources said that the fund house has started scouting for a new CEO. Till a new CEO is appointed, the fund house will be led by Kiran and Mahmood along with Jack Lin.
The Baroda Pioneer joint venture was formed in 2008. Pioneer has a 51% stake in the joint venture.
Baroda Pioneer MF manages AUM of Rs. 7,173 crore as on March 2015.
