ALSO READGovt's fiscal burden in providing pension may increase multi-fold: Crisil MCX appoints V Balasubramaniam as MD and CEO FTIL's Jignesh Shah steps down from MD, CEO positions After RBI's move, govt looks at rating agencies for upgrade India's ratings hinge on how govt delivers on reforms: S&P
Ending a six-month search for a new head, ratings agency CRISIL on Monday named L&T Investment Management Chief Executive Ashu Suyash as its managing director (MD) and chief executive officer (CEO), effective June this year. Suyash will succeed MD & CEO Roopa Kudva, who had, in September 2014 announced her intent to step down. Kudva has held the post of MD & CEO since 2007.
CRISIL, a subsidiary of Standard & Poor’s, said Suyash had 26 years of experience in the Indian financial services sector. She had moved to L&T following the acquisition of Fidelity Worldwide Investment’s India asset management business by L&T Investment Management Ltd.
At L&T Investment Management, she is also responsible for L&T Capital Markets Ltd, the wealth management arm of L&T Financial Services with about Rs 6,500 crore of assets under management. Earlier, Suyash was MD and country head (India) of Fidelity’s asset management business, which she helped set up in 2004.
Before joining Fidelity, she worked with Citigroup India. During her 15-year stint at Citigroup, she held several senior positions across operations, investment banking, finance, sales and marketing, and general management.
Douglas Peterson, chairman of the CRISIL board, said Suyash’s strong professional track record in the financial services sector and her proven leadership skills would be of immense benefit to CRISIL.