Deepak Chatterjee appointed MD of SBI Funds Management

SBI Funds Management today said it has appointed Deepak Chatterjee as its new Managing Director with effect from January 13.

SBI Funds Management is the investment manager for SBI Mutual Fund.

Chatterjee has over 32 years of experience in the banking sector. In his previous assignments in the last 10 years, he has held senior positions in SBI and SBI Capital Markets, a release said here.

On his appointment, Chatterjee said, "I am quite enthusiastic about my new assignment at SBI Mutual Fund, especially in these challenging times for the mutual fund industry."

"Over the next three years, backed by the State Bank Group's vast branch network, we plan to further expand our reach to semi-urban, Tier II & Tier III cities and consolidate SBI MF's position as the preferred fund house. There is a huge untapped potential for the mutual fund business in India," he said.