Suresh Soni joins as new CEO who has previously worked around 15 years at Deutsche Asset Management, and recently, he was Chief Executive Officer at Edelweiss Alternative Asset Advisors

Baroda Asset Management India Ltd on Thursday said it has appointed Suresh Soni as chief executive officer.

Soni, who has been appointed with effect from August 3, 2021, is a seasoned asset management professional with experience of over 25 years, Baroda Asset Management said in a statement.

His experience spans across investment and business management. He has varied experience of working with start-ups as well as global giants and across retail as well as institutional clients.

In his prior roles, Soni worked for around 15 years at Deutsche Asset Management, and recently, he was Chief Executive Officer at Edelweiss Alternative Asset Advisors.

'We are delighted to bring Suresh on board to strengthen our asset management business. His vast experience in managing investments as well as businesses will complement our existing capabilities,' Sanjiv Chadha, Managing Director, and Chief Executive Officer, Bank of Baroda, said.

'We are very excited about the long-term potential of the asset management business and will continue to invest in growing our presence,' he added.

Soni said that low penetration of mutual funds amid falling returns on traditional investment avenues creates a strong growth potential for asset management business.

Baroda Asset Management India, investment manager to Baroda Mutual Fund, is a wholly-owned subsidiary of the Bank of Baroda. It manages assets to the tune of Rs 12,165 core as of July 2021. 

(PTI)