Change of leadership at HSBC Mutual Fund

After a highly successful five years at the helm, Sanjay Prakash, CEO, HSBC Asset Management (India) will be moving on to a new role within the HSBC Group internationally. Sanjay joined HSBC Mutual Fund as its Chief Operating Officer in April 2001 and took over as its CEO in February 2003. HSBC Mutual Fund has witnessed tremendous growth under his leadership and is now a formidable force in the asset management space. In fact it was one of the youngest asset management companies to enter the top 10 companies list and has flagship products like HSBC Equity Fund that continue to perform consistently over its benchmark, thereby generating wealth for its investors.

Sanjay Prakash will be succeeded by Vikramaditya as the CEO of HSBC Asset Management India (P) Ltd.

Vikramaditya joined the Bank in 1998 and moved on to head the HSBC Securities and Services (HSS) group in 2004. HSBC HSS continues to be market leader with more than 40 per cent share of the custody and clearing market in India and has added new product lines in Institutional Fund Services, Derivatives Clearing and CTLA. At HSBC Mutual Fund, Vikram will be responsible for leading the company through the challenges of a volatile stock market and an extremely competitive external environment. Vikram is a graduate of IIT-Kanpur & IIM-Calcutta and has worked with Citibank before joining HSBC.

Both these appointments are testimony to the well-recognised talent pool that the HSBC Group possesses in India.

"It has been an extremely satisfying and fulfilling experience to have played a part in HSBC Mutual Fund's growth over these years. Change I believe is inevitable and it provides an opportunity to look forward and reach greater heights. As HSBC Mutual Fund embarks on a new journey, I am confident that Vikramaditya will lead the company to even greater success and wish him the best in his endeavors " - Sanjay Prakash, CEO, HSBC Asset Management (India).

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