CVR Rajendran, Former Chairman and Managing Director of Andhra Bank, will be the new CEO of AMFI. HN Sinor, CEO, AMFI has confirmed this development.
Rajendran’s tenure as CMD at Andhra Bank ended on April 2015. Prior to this, he was the Executive Director at Bank of Maharashtra. He has held key position in many financial institutions like Asian Development Bank, Corporation Bank and MCX Stock Exchange. He joined banking sector in 1978 as an Officer with Corporation Bank.
Earlier, AMFI had invited application from the candidates having a minimum experience of 25 years in the financial market and have at least 5 years of experience in a role of a CEO or whole time director before June 1. Sources privy to development said that 15 applications had come of which three were shortlisted.
Rajendran is likely to join AMFI by next month.
Rajendran will replace Sinor. Sinor had joined AMFI in 2010 as its CEO after A P Kurian’s retirement. Prior to this, Sinor was CEO of Indian Banks Association. A veteran with over four decades of experience in banking, he was the Managing Director and Chief Executive Officer of ICICI Bank. During his tenure, the mutual fund industry has had to deal with sweeping regulatory changes and a challenging business environment. Among other initiatives, AMFI had initiated investor awareness campaign, IMFI (SRO body for distributors) and MF Utility during his tenure.
