Baroda AMC, BNP Paribas AMC set for merger, parent cos enter agreement

Deputy chief executive officer Anand Shah to quit BNP Paribas AMC

Baroda Asset Management Company (AMC) and BNP Paribas AMC (India) have agreed to merge their businesses. 

Responding to a Business Standard query, BNP Paribas AMC (India) also confirmed that deputy chief executive officer Anand Shah has decided to part ways with the organisation.

Apart from the executive role, Shah was also head of investments at the AMC.

"There is a succession plan in place with a different head and team leads of asset classes to cover his (Shah's) responsibilities," the AMC said.

Meanwhile, the parent companies of the two AMCs -- Bank of Baroda and BNP Paribas AMC (Asia) -- have entered into binding