Mr. Gupta, the current MD & CEO is set to join SBI Bank
Mumbai: Deepak Kumar Chatterjee is all set to be the new managing director of India’s sixth largest fund house SBI Mutual Fund, sources confirm. Achal Kumar Gupta, the current Managing Director and CEO of SBI Mutual Fund is moving back to SBI Bank where he spent over 28 years. During his tenure, SBI Mutual Fund’s assets under management grew 38% from Rs.30, 132.40 crore in June 2008 to Rs 41,497 crore during Oct-Dec quarter.
Sources say that Mr. Chatterjee is likely to take charge as MD of SBI MF from next Monday, 10 January 2010. “This is an inter departmental change. He is going back to the bank,” said a source privy to the development.
Mr. Gupta held various roles in the public sector bank like Credit Administration, International Banking Operations, Branch Management, Agricultural Banking and Relationship Banking. He was appointed as the Managing Director of SBI Mutual Fund on 15 May 2008 following the retirement of earlier MD Mr. Syed Shahabuddin.