PremiumNEW DELHI: Mutual fund house Baroda Asset Management India Ltd on Thursday said it has appointed Suresh Soni as chief executive officer, effective 3 August.
Soni’s 25 years worth of experience spans across investment and business management. He has varied experience of working with startups as well as global giants and across retail as well as institutional clients. In his prior roles, Suresh worked for around 15 years at Deutsche Asset Management. Recently, he was the CEO at Edelweiss Alternative Asset Advisors, one of the largest alternative asset managers in the country.
Commenting on Soni’s appointment, Sanjiv Chadha, MD and CEO, Bank of Baroda, said, "We are delighted to bring Suresh on board to strengthen our Asset management business. His vast experience in managing investments as well as businesses will complement our existing capabilities. We are very excited about the long-term potential of asset management business and will continue to invest in growing our presence"
Baroda Asset Management India Limited, investment manager to Baroda Mutual Fund, is a wholly-owned subsidiary of Bank of Baroda. The asset management company had assets under management worth Rs12,165 crore as on 31 July.
In a statement, Suresh Soni said: “Low penetration of mutual funds amid falling returns on traditional investment avenues creates a strong growth potential for Asset management business. With the pedigree and reach of Bank of Baroda and a strong team, I am truly excited to scale up the business."
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