Gopal Agarwal, who quit his position as the chief investment officer at Tata Mutual Fund in May, is set to soon move to DSP Blackrock MF. Confirming the development, a company spokesperson said: "Gopal Agarwal will be joining DSP BlackRock in a senior role as part of Vinit Sambre’s team. We will communicate further details in due course."
After Anup Maheshwari, who was serving as CIO (Equities), decided to move on, Sambre was moved to the position of head of equities and Rohit Singhania was made the co-head (Equities) at DSP BlackRock MF.
Besides the change in personnel, the AMC has also seen changes in terms of ownership. The DSP Group recently decided to buy out its joint-venture partner BlackRock for an undisclosed amount, marking the exit of yet another foreign fund house from India. BlackRock Inc had a 40 per cent stake in the JV and wanted to buy out DSP. However, the Indian promoter group, the Kothari family, was against such a buyout and eventually bought out BlackRock's stake.
Agarwal, who would be joining the restructured AMC, had played a key role in turning around Mirae AMC, where he worked for nine-and-a-half years – from October 2007 to March 2017. Prior to Mirae, he worked at SBI MF, UTI Securities, IDBI Capital, Kotak Securities and HDFC Securities as an analyst.