On Monday, the board of directors of Shriram Asset Management Company Ltd. approved the appointment of Kartik Jain as the new MD and CEO. This appointment is pending regulatory and shareholder approval.
Shriram Asset Management Company (AMC) is a part of the Shriram Group, a financial conglomerate that manages assets worth over ₹ 2.25 lakh crore. In August 2022, the company underwent a revamp of its operations following the sale of a 23% stake to Mission1 Investments LLC, a US-based firm.
As the new MD and CEO, Jain will work to realign the company’s customer strategy and increase operational efficiency. Before joining Shriram AMC, Jain served as head of Product, Platforms, and Digibank at DBS Bank India’s Consumer Business Group in Mumbai. He has also held positions as CMO at HDFC Bank and led marketing and eChannel at ICICI Lombard General Insurance. In addition, Jain worked as an advisor at KPMG, where he provided eBusiness strategy and process re-engineering guidance to clients in the UK and Europe.
Jain has extensive experience in various areas, including sales and distribution, marketing, product management, analytics, strategy, wealth, and digital business, across the banking, financial services, insurance, consulting, and consumer goods sectors.
Subhasri Sriram, Director of Shriram AMC, commented on Jain’s appointment, saying, “We are thrilled to have Kartik join our team, especially during a time when mutual funds are becoming a more popular investment option. Despite economic challenges, a significant portion of our population is expected to take advantage of this trend. With his strong sense of purpose and expertise in digital strategies, Kartik’s inclusive leadership style will help us increase our operational agility.”
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