Tata Asset Management informed that it has identified Mr. Prathit Bhobe as their new CEO and Managing Director. The company informed the appointment of the new CEO via a press release on Tuesday. The release doesn’t speak about the date on which the new CEO will join the company.
Prathit Bhobe is currently Senior General Manager at ICICI Bank and heads the Retail Liabilities Product, Wealth Management, and Private Banking business. His responsibilities include product management for a savings account, wealth management, private banking, mutual funds and insurance. Mr. Bhobe who has been with ICICI Bank for more than 11 years, brings with him a rich financial services experience of over 24 years across various areas of banking and wealth creation.
Prior to his tenure at ICICI Bank, Mr. Bhobe was with Citibank for 8 years where he successfully ran the Banking vertical in the distribution business.
Speaking on the appointment, Mr. Saurabh Agrawal, Group CFO, and Director Tata Sons Ltd said, “We welcome Prathit joining the TATA group. The asset management business is seeing huge growth and we are confident that Prathit’s experience will help the company build the next phase of growth. His experience in distribution and product management will be extremely useful as the group moves towards a leadership position in the financial services segment”.
Mr. Bhobe is in the process of transiting out of his current role at ICICI Bank and will join thereafter.
About Tata Asset Management Limited
Tata Asset Management Ltd is a well-respected asset management company in business over the last 2 decades and has a strong pan-India retail-oriented presence, with own branches across more than 70 locations. The AMC has an asset base of Rs 48,906 crores (Average assets during Oct-Dec 2017) including a large number of NRI investors from the Middle East. It also manages an overseas AUM upwards of Rs 2,300 crores. Its funds like Tata Equity P/E Fund, Tata India Tax Savings Fund, and Tata Retirement Savings Fund are among the top performers in their respective categories.
Tata Mutual Fund offers an investment option for everyone, whether you are a businessman or salaried professional, a retired person or housewife, an aggressive investor or a conservative capital builder. The Tata Asset Management philosophy is centered on seeking consistent, long-term results. Tata Asset Management aims at overall excellence, within the framework of transparent and rigorous risk controls.
