The current MD & CEO of IDBI MF has reportedly put in his papers last month and a top official from IDBI Bank is likely to replace him
Mumbai: Krishnamurthy Vijayan, the MD & CEO of IDBI Asset Management is believed to be serving his notice period after putting in his papers last month, according to two persons familiar with the development.
Grapevine has it that a top official from IDBI Bank is likely to replace him soon. An email sent to Vijayan, who is currently in Chennai remained unanswered. The reason for his exit is not known yet.
IDBI Mutual Fund is a wholly owned subsidiary of IDBI Bank. It has launched index funds mainly since it commenced operations in March 2010. IDBI MF’s assets under management rose from Rs 202 crore in July 2010 to Rs 393 crore as on March 2011.
Krishnamurthy Vijayan is one of the most experienced professionals in the mutual funds business. He started his career with UTI and has held various positions there before joining Jardine Fleming. He has also been the CEO of JM Financial AMC and Executive Chairman and Director of JP Morgan Asset Management India.
