IFA Galaxy bid farewell to H N Sinor, CEO, AMFI. Sinor will retire from the post of AMFI CEO soon.
Sinor was invited to attend the quarterly meeting of IFA Galaxy held in Chennai on Tuesday. Around 25 members of IFA Galaxy attended this meeting. The members discussed some key issues of distribution community with Sinor.
Striking an optimistic note, Sinor said that he is bullish on the prospects of distribution business. However, he expressed concern over the declining number of active distributors.
Sinor advised IFAs to leverage technology to grow their business. “Going forward, leveraging technology will help advisors to increase their client base. Also, IFAs should learn to adapt to the regulatory challenges and keep themselves updated.”
A K Narayan, President, IFA Galaxy told Cafemutual that Sinor has given insights on deepening the reach with clients. He said that Sinor has been a source of inspiration for the distribution community.
Sinor was CEO of Indian Banks Association. A veteran with over four decades of experience in banking, in 1998, he was appointed as 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.
CVR Rajendran, Former Chairman and Managing Director of Andhra Bank, is set to become the new CEO of AMFI. 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.
