Ashutosh Bishnoi will head the operations of L&T MF till the panel shortlists a new CEO
Mumbai: Sanjay Sinha, the CEO of L&T Mutual Fund has put in his papers. Meanwhile, Ashutosh Bishnoi will supervise the operations of L&T Mutual Fund till a panel selects a new CEO.
Mr. N Sivaraman, President and Whole Time Director, L&T Finance Holdings said, "We value Mr. Sinha's contribution in building the business while he was CEO of the Company. With immediate effect, Mr. Ashutosh Bishnoi former Executive Director of UTI Mutual Fund will supervise the operations of the Company supported by an executive committee comprising of the key executives of the organisation under the overall guidance of Mr. Ved Prakash Chaturvedi, Chief Executive - Capital Markets and Investment Management Group of L&T Finance Holdings. The selection panel for the new CEO has been constituted and a search is under way”.
L&T MF has seen a few senior level exits in the last one year.
Ashutosh Bishnoi is currently associated with L & T Finance as an advisor and consultant. He is an industry veteran having had stints with fund houses such as UTI, HSBC and JM.
Sinha was heading DBS Cholamandalam MF which was renamed as L&T MF in 2009 after L&T Finance acquisition of DBS Cholamandalam. L&T MF manages Rs. 5,215 crore assets under management as of June 2011.
