SBI Funds Management Ltd. has announced the appointment of Nand Kishore as its new Managing Director and Chief Executive Officer, effective immediately. Kishore succeeds Shamsher Singh and will be responsible for overseeing the operations of SBI Mutual Fund, India’s largest asset management firm, which currently manages assets totalling ₹11 lakh crore as of October 2024.
With a career spanning over 34 years at the State Bank of India (SBI), Kishore brings a wealth of experience across a wide spectrum of banking functions, including branch banking, treasury, investment banking, and retail operations. Having started his career at SBI as a probationary officer in 1990, he quickly ascended the ranks, eventually becoming Deputy Managing Director. His most recent role was at SBI’s Corporate Centre in Mumbai, where he served as Deputy Managing Director for Global Markets, overseeing the bank’s treasury operations.
Prior to his appointment at SBI Funds Management, Kishore held several key positions, including Chief Dealer at SBI New York, as well as Deputy General Manager and Chief Operating Officer at the Corporate Accounts Group in Delhi. His extensive background in banking operations and leadership equips him well to guide SBI Mutual Fund through its next phase of growth.
In his new role, Kishore aims to fortify SBI Mutual Fund’s position as the market leader, enhancing its presence across various investment segments and solidifying its reputation as the preferred choice for investors. He is also keen to expand the company’s offerings beyond mutual funds, with a keen focus on portfolio management services, offshore funds, and alternative investment funds, all with the objective of driving further growth and diversification.
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