SBI Funds Management appoints Shamsher Singh as new MD, CEO of company

SBI Funds Management Ltd on Thursday said it has appointed Shamsher Singh as managing director and chief executive officer of the company.

Singh, who was deputy managing director at State Bank of India (SBI), has taken over the charge from Vinay M Tonse following his repatriation to the public sector lender,

the asset management company said in a statement.

Singh has more than 32 years of rich experience working with SBI in various verticals, including investment banking, treasury, corporate banking and branch banking. He had joined SBI as probationary officer in June 1990 and moved up the ranks to become deputy MD by successfully managing leadership roles across domains besides serving international stints in the US, Bahrain and UAE.

"Its a huge responsibility to manage the growth dynamics of the No. 1 mutual fund house in the country... As a market leader our aim is to ensure that more domestic investors consider mutual funds when planning for their financial goals while we reach out to investors for our offerings across portfolio management services, alternative investment funds and offshore funds," Singh said.

SBI Funds Management is a joint venture between SBI and Europe's largest asset manager Amundi.