Hari Shyamsunder to take over as CEO of Navi AMC

I am confident that Hari will further strengthen our mutual fund business, Sachin Bansal, Co-founder of the Navi Group, said.I also take this opportunity to thank Saurabh for setting up a great foundation for Navi AMC Limited.

Sachin Bansal-backed Navi Mutual Fund on Friday announced that its fund manager Hari Shyamsunder will take charge as the Chief Executive Officer (CEO).

This is subject to the requisite corporate approvals being obtained, Navi Mutual Fund said in a statement.

He will take over from Saurabh Jain, who resigned from this role on Feb 28. Jain will be moving to another role within the Navi Group, where he will lead a new business vertical.

Shyamsunder brings more than 16 years of work experience, with 12 of them in the asset management industry. He joined Navi AMC Limited in 2021 after over a decade at Franklin Templeton, where he was a co-portfolio manager and research analyst. ''I am looking forward to Hari taking charge and continuing the exciting journey of Navi AMC. He is a mutual fund industry veteran with a proven track record in portfolio handling and research. I am confident that Hari will further strengthen our mutual fund business,'' Sachin Bansal, Co-founder of the Navi Group, said.

''I also take this opportunity to thank Saurabh for setting up a great foundation for Navi AMC Limited. He has got the business to a strong start and I look forward to him creating a similar impact in his new strategic role within the group,'' he added.

Bansal, co-founder of Flipkart, had acquired Essel Mutual Fund from the Essel Group in February 2021 and renamed it Navi Mutual Fund.