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DHFL Pramerica Mutual Fund has appointed Suresh Soni as its new CEO. Soni, according to a press release from the company, will be responsible for integration and strategy at the new business.
Last August, mutual fund house Pramerica agreed to buy the asset management business of Deutsche Bank in India. While neither party disclosed the size of the deal, industry sources estimate it to be ₹300-400 crore. The new company is a 50:50 joint venture between Pramerica AMC and Dewan Housing Finance Corporation. Soni used to head Deutsche Mutual Fund before its acquisition.
As of March 4, 2016, the combined assets under management stood at Rs 25,428 crore.
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