ICICI Prudential AMC's Iyengar to join Indiabulls AMC as chief executive

Sector insiders suggest some investment decisions taken during Gupta's tenure did not go down well with the sponsors and this could have led to his ouster

Raghav Iyengar, who had been heading the institutional and retail business at ICICI Prudential Asset Management Company (AMC), has resigned and is slated to join Indiabulls AMC as its chief executive officer (CEO).
 
According to sources, Iyengar will be joining the small-sized fund house by the third week of August. A spokesperson at ICICI AMC said: “Iyengar has chosen to pursue opportunities outside the company and we wish him the very best for his future plans.”
 
Indiabulls AMC said it could not comment on market speculation.
 
Sources add that Akshay Gupta, currently group executive head and CEO