Tata MF Announces Change in Key Personnel

Tata Mutual Fund has announced the appointment of Mr. Hitungshu Debnath as the Head Sales & Marketing of Tata Asset Management Ltd. with effect from 14 January 2011.

Mr. Hitungshu Debnath is aged 43 years and holds Certified Financial Planner, PG in Marketing Management and Baccalaureate in Optometry as his qualification. He has over 19 years of experience.

Source: http://www.adityabirlamoney.com/news/451665/10/22,24/Mutual-Funds-Reports/Tata-MF-Announces-Change-in-Key-Personnel

Religare MF Announces Change in Key Personnel

Religare Mutual Fund has announced that Mr. Krishna Venkat Cheemalpati has joined Religare Asset Management Company Ltd. as Fund Manager - Fixed Income with effect from 18 January 2011. Mr. Krishna Venkat Cheemalpati is aged 40 years and holds BE. (ECE), PGDBA, CFA (ICFAI Hyderabad) as his educational qualification. He has more than 13 years of experience in Fixed Income market. In his earlier assignment he was the Chief Investment Officer with Reliance General Insurance Company Ltd. (from October 2008 - 17 January 2011).

Pursuant to resignation of Mr. Abbas Ratnani - Fund Manager - Equity, schemes such as Religare Arbitrage Fund, Religare AGILE Fund and Religare AGILE Tax Fund will be managed by Mr. Vetri Subramaniam.

Mr. Anil Saxena has resigned from the Board of Directors of Religare Asset Management Company Ltd. with effect from 12 January 2011.

Source: http://www.adityabirlamoney.com/news/451691/10/22,24/Mutual-Funds-Reports/Religare-MF-Announces-Change-in-Key-Personnel

UK Sinha set to be next Sebi chairman

The Prime Minister’s Office (PMO) on Friday cleared the appointment of UK Sinha as the next chairman of India’s market regulator, Sebi, said sources. Sinha is currently the Chairman and Managing Director of Unit Trust of India (UTI) Asset Management Company . He also heads Amfi, the lobbying arm of the Indian mutual fund industry.

Sinha succeeds CB Bhave, whose three-year term ends on February 17, 2011. A former joint secretary, capital markets, in the finance ministry, Sinha was chosen by a committee in 2007 to head Sebi, but the government ultimately went for Bhave.

Sinha was in the Indian Administrative Services for three decades, but later quit to join UTI AMC. He has vast experience in dealing with financial sector issues, having handled the reverse merger of ICICI with ICICI Bank as joint secretary in the banking division of the finance ministry; restructuring of the erstwhile UTI; as also the drafting of the amendments to the Sebi Act and securities laws.

He is perceived as one who takes the middle path preferring to take people along.

Last year, the finance minister appointed Sinha to head a committee to recommend measures on all forms of foreign investment, including portfolio flows, venture capital and participatory notes.

The new Sebi chairman is expected to get a five-year term unlike his predecessor, thanks to changes in rules governing the appointment of the Sebi chief last year.

Last month, a committee headed by the cabinet secretary interviewed several candidates and finally shortlisted Sinha and Himadari Bhattacharya, Vice-President of Tata Capital and a former RBI official.

Source: http://economictimes.indiatimes.com/articleshow/7382222.cms?prtpage=1