New Delhi, Aug 25: SBI Funds Management on Tuesday announced the appointment of Vinay M Tonse as its managing director and chief executive officer.
SBI Funds Management is a joint venture between the country’s largest lender State Bank of India (SBI) and European asset manager Amundi.
Tonse took over the charge as MD and CEO on Monday from Ashwani Bhatia, who now returns to parent SBI as its managing director, the fund house said in a statement.
Tonse joined SBI as a probationary officer in 1988 and has worked across different locations in India and abroad.
Over his tenure of 32 years with SBI, Tonse has traversed through various functions and assignments possessing rich experience in several facets of commercial banking such as corporate credit, treasury, retail and international banking.
Before joining SBI Funds Management, he was serving as the chief general manager of the Chennai circle at SBI and was heading SBI’s business and operations in Tamil Nadu and Puducherry.
He also headed the operations at SBI Osaka branch in Japan as CEO for four years. In his early days, Tonse also worked as an officer with the bank’s Singapore office.
“With our vast distribution network, we will further strive to take the benefits of capital markets to investors across the country. I am excited to begin this new journey in the mutual fund industry, which will need to leverage technology to drive the next level of growth,” Tonse said.
SBI Funds Management is an investment manager of all the schemes of SBI Mutual Fund. (PTI)
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