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Yet another Indian mutual fund chief gets
global recognition
Mumbai: For quite some time now India's mutual fund industry personnel have been getting
global recognition.
The latest to be so honoured is, Mr. Ajay Srinivasan,
managing director of Prudential ICICI Asset Management Company. He has just been promoted
to regional director mutual funds for the Asian region, thus becoming the first Indian to
get promoted to that post in the Prudential system.
Mr. Srinivasan, who has been an executive committee member
for Prudential in the region for the last six months, is widely credited as the key person
behind the turnaround in the AMCs fortunes in India. Under his tenure in India, the
domestic under management by the fund rost from Rs 160 crore in June 1998, when he took
over, to become Rs 3,945 crore.
Mr. Mark Tucker, Prudential Corporation Asia chief executive, is of the opinion that the
model Mr. Srinivasan has implemented in India is an excellent one to replicate around the
region.
Mr. Srinivasan joins a growing list of Indians from the
mutual fund industry who have been promoted to higher positions in the parent
organisations. They include Mr. Samir Arora, formerly chief investment officer—India
at Alliance, who is now head of Asian emerging markets based in Singapore at Alliance
Capital, Mr. Vijay Advani, former country manager India for Templeton Asset Management,
now one of its five managing directors world-wide and the only Indian managing director,
Mr. Sunny Oberoi, previously managing director India at Capital International Group, now
looking at business development for Asia and Mr. S Naganath, former chief investment
officer of DSP Merrill Lynch Asset Management, now head of Asian equities at Credit Suisse
Asset Management-USA.
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Ashok Ganguly inducted as I-Win chairman
Calcutta: Former Hindustan Lever, and current ICI Limited, chairman, Mr. Ashok Ganguly
has been inducted as the chairman of I-Win, the joint venture infrastructure company
between the ICICI Ltd and the West Bengal Industrial Development Corporation (WBIDC).
ICICI has a 76 per cent stake in the company, the balance is owned by the WBIDC.
Mr. Ganguly took over as chairman of the company after a board meeting on April 22 at
Calcutta, which had been attended by the ICICI chairman Mr. N Vaghul.
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