Mutual fund industry body AMFI has begun the search for a
new chief executive and set up a three-member committee to find a successor to
the current CEO H N Sinor.
Sinor's term ends in September. He had joined AMFI in 2010 as its CEO after A P Kurian's retirement.
Sinor was re-appointed as the CEO earlier this year after his term ended in December 2014.
The next CEO will be selected in the next Annual General Meeting (AGM) of Association of Mutual Funds of India (AMFI), which is expected in September, official sources said.
The search panel comprises of AMFI chairman Sundeep Sikka, who is also managing director and chief executive of Reliance MF, HDFC MF managing director Milind Barve and Birla Sun Life MF chief executive A Balasubramanian.
The ideal candidate to fill the top post at AMFI would be a person having decades of experience in the financial markets.
During Sinor's tenure, the mutual fund industry has dealt with sweeping regulatory changes.
Among the initiatives taken during his term, AMFI has put a one per cent cap on upfront commission paid to distributors and initiated investor awareness campaign.
Sinor is a former ICICI Bank executive and chief executive of the Indian Banks' Association.
AMFI, which is the industry association of mutual funds, interacts with market regulator Sebi regarding mutual fund related issues and also represents the industry to government, RBI and other organisations. It also serves as a self- regulatory body for mutual funds.
Sinor's term ends in September. He had joined AMFI in 2010 as its CEO after A P Kurian's retirement.
Sinor was re-appointed as the CEO earlier this year after his term ended in December 2014.
The next CEO will be selected in the next Annual General Meeting (AGM) of Association of Mutual Funds of India (AMFI), which is expected in September, official sources said.
The search panel comprises of AMFI chairman Sundeep Sikka, who is also managing director and chief executive of Reliance MF, HDFC MF managing director Milind Barve and Birla Sun Life MF chief executive A Balasubramanian.
The ideal candidate to fill the top post at AMFI would be a person having decades of experience in the financial markets.
During Sinor's tenure, the mutual fund industry has dealt with sweeping regulatory changes.
Among the initiatives taken during his term, AMFI has put a one per cent cap on upfront commission paid to distributors and initiated investor awareness campaign.
Sinor is a former ICICI Bank executive and chief executive of the Indian Banks' Association.
AMFI, which is the industry association of mutual funds, interacts with market regulator Sebi regarding mutual fund related issues and also represents the industry to government, RBI and other organisations. It also serves as a self- regulatory body for mutual funds.
Source: http://timesofindia.indiatimes.com/business/mf-simplified/mf-news/Mutual-fund-industry-body-AMFI-scouts-for-a-new-CEO/articleshowhsbc/47456770.cms
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