C V R Rajendran, Former Chairman and Managing Director of Andhra Bank has taken charge as the new CEO of AMFI on September 16.
Rajendran’s tenure as CMD at Andhra Bank ended in April 2015. Prior to this, he was the Executive Director at Bank of Maharashtra. He has held key positions 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 applications from candidates having a minimum experience of 25 years in the financial markets with 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 AMFI had received 15 applications out of which three were shortlisted.
Rajendran has succeeded HN Sinor. Sinor had joined AMFI in 2010 as its CEO after AP 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.
The mutual fund industry has had to deal with sweeping regulatory changes and a challenging business environment during Sinor’s tenure. Among other initiatives, AMFI had initiated investor awareness campaign, IMFI (SRO body for distributors) and MF Utility during his tenure.
