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Who has been appointed as the new CEO of Axis Mutual Fund on 9th March 2023?
A)
B Gopkumar
B)
Shanti Lal Jain
C)
Sandeep Bakhshi
D)
Dinesh Kumar Khara

Correct Answer :   B Gopkumar


Axis Asset Management Company (AMC) on Thursday (9th March 2023) announced that MD and CEO Chandresh Nigam will leave the firm after 10 years at the helm, after requesting not to be considered for reappointment. His term ends on April 30.

* According to a release, Nigam had joined Axis AMC on July 1, 2009 as head of equities, and took charge as the MD and CEO on May 1, 2013.

* The board approved the appointment of B Gopkumar, MD and CEO of Axis Securities, to succeed Nigam from May 1 to April 30, 2026.

* Gopkumar has been in charge of Axis Securities since October 2019. In addition, the fund house has on-boarded former Credit Suisse head of India equity research Ashish Gupta as the chief investment officer.

* The change of guard comes fresh on the heels of the regulator’s recent interim order on the front-running case, barring 21 entities from accessing the securities markets and directing them to disgorge Rs 30.6 crore in unlawful gains.

* SEBI had cracked the whip on the fund house last year after being alerted by its internal surveillance system that trades by certain entities between September 2021 and March 2022 were not executed in the normal course.

* The regulator established links through a series of WhatsApp messages, identifying Axis MF’s former chief dealer Viresh Joshi as ‘jadugar’, who was the mastermind of a fraudulent scheme of front-running...

Source : Financial Express

Published On : March 10, 2023
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