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Mr Sanjay Sinha of L&T Mutual Fund stepped down from his position of Chief Executive Officer on Tuesday, said a release from the fund house.
Mr Ashutosh Bishnoi will be handling the day-to-day operations of the fund house till a new CEO is selected by the selection panel. Mr Ashutosh Bishnoi is a former Executive Director of UTI Mutual Fund.
“With immediate effect, Mr Ashutosh Bishnoi will supervise the operations of the company supported by an executive committee comprising of the key executives of the organisation under the overall guidance of Mr Ved Prakash Chaturvedi, Chief Executive — Capital Markets and Investment Management Group of L&T Finance Holdings.
“The selection panel for the new CEO has been constituted and a search is underway,” said Mr N. Sivaraman, President and Whole Times Director, L&T Finance Holdings.
L&T Mutual Fund was earlier known as DBS Chola Mutual Fund and was incorporated in 1997. In September 2009, L&T bought over DBS Chola and incorporated L&T Mutual Fund.
Mr Sinha joined L&T Mutual Fund, then DBS Chola Mutual Fund, in September 2008. Prior to this, he was the Chief Investment Officer at SBI Mutual Fund. He had started his mutual fund career with UTI Mutual Fund where he worked for over 16 years.
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