Investment manager Quantum Advisors has announced the elevation of Piyush Thakkar as the new Chief Executive Officer and Arvind Chari as the new Chief Investment Officer.
The elevation marks the splitting of the positions of Managing Director, Chief Executive Officer and Chief Information Officer as a part of succession planning. I V Subramaniam remains the Managing Director on the board.
While Thakkar was the Chief Operating Officer prior to the promotion, Chari was heading its fixed income business. Both the appointments are effective from January 1, the company said.
Quantum Advisors is also the country’s first equity research house founded in 1990. With this change, Subramaniam will be shedding responsibilities related to organisation matters at the corporate level but will retain full charge of portfolio management continuing to lead the portfolio team and focus solely on the value equity product, it said.
Thakkar had joined Quantum in June 2010 and has been the Chief Operating Officer since October 2011. As the CEO, he will be responsible for all business and operational functions but will not oversee research/ fund management.
Chari had joined Quantum in August 2004 and has been heading the fixed income and alternatives business since November 2013. As the CIO, he will engage with existing and potential institutional clients. Quantum has been managing money for pensions, endowments, family offices and sovereign wealth funds largely based out of the US, Canada and Europe.
When founded by Ajit Dayal in January 1990 it was the country”s first equity research house. Currently, its assets under management is around USD 2.8 billion.
Source: PTI
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