Stock Report

Kartik Jain appointed MD and CEO of Shriram AMC

Posted On : 2023-01-09 20:53:54( TIMEZONE : IST )

The board of directors of Shriram Asset Management Company Ltd. on Monday has approved the appointment of Kartik Jain as its new MD and CEO. The appointment is subject to regulatory and shareholder approvals.

Shriram AMC is part of the Shriram Group, a financial conglomerate that manages assets more than Rs 2.25 lakh crore. In August 2022, the company rebooted its operations after a 23% stake sale to US-based Mission1 Investments LLC.

Jain's appointment as MD and CEO will re-orient the brand's customer strategy and enhance operational efficiency. Prior to joining Shriram AMC, Jain headed Product, Platforms and Digibank at DBS Bank India's Consumer Business Group in Mumbai. He also served as CMO at HDFC Bank and led marketing and eChannel at ICICI Lombard General Insurance. At KPMG, Jain advised clients in the UK and Europe on eBusiness strategy and process re-engineering.

Jain comes with deep experience in sales and distribution, marketing, product management, analytics, strategy, wealth, and digital business cross BFSI, Consulting and Consumer Goods.

Speaking on his appointment, Subhasri Sriram, Director, Shriram AMC said, "It's great to have Kartik on board especially at a time when mutual funds are gaining popularity as an investment option. Despite economic headwinds, a great deal of our population is set to ride this wave in a big way. Kartik, with his strong sense of mission, can help improve operational agility through his inclusive leadership style and digital insight."

"Shriram Group is a trusted name in financial services, and I look forward to being a part of the Group's journey in creating a meaningful difference to the lives of our customers. Shriram AMC is the perfect platform to offer a range of mutual fund solutions to help meet every Indian's financial and life goals, and I am excited about creating a high-quality, differentiated franchise while leveraging data and technology," said Jain.

Shares of SHRIRAM ASSET MANAGEMENT CO.LTD. was last trading in BSE at Rs. 121.05 as compared to the previous close of Rs. 100.90. The total number of shares traded during the day was 29382 in over 234 trades.

The stock hit an intraday high of Rs. 121.05 and intraday low of 105.00. The net turnover during the day was Rs. 3460288.00.