Baroda Asset Management India Limited, the investment manager to Baroda Mutual Fund, is a wholly-owned subsidiary of Bank of Baroda, has appointed Suresh Soni as its new Chief Executive Officer. His appointment has come into effect from 3rd August 2021.
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.”
According to the company’s official website, Suresh Soni is a seasoned Asset management professional with rich experience of over 25 years. His experience spans across investment and business management. He has varied experience of working with start-ups as well as global giants and across retail as well as institutional clients. In his prior roles, he has worked for around 15 years at Deutsche Asset Management, leading it to become the most successful foreign bank promoted asset manager in the country. Recently, he was CEO at Edelweiss Alternative Asset Advisors, one of the largest alternative asset managers in the country.
In its official communiqué, 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.”