HDFC Asset Management Company Limited Announces Executive Changes
January 20, 2021 at 04:46 pm IST
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HDFC Asset Management Company Limited announced the appointment of Rushad Abadan as an Additional Director on the Board of Directors of the company, liable to retire by rotation, effective from January 21, 2021. Mr. Rushad Abadan has been nominated by Standard Life Investments Limited (SLI), one of the Promoters of the company. Norman Keith Skeoch Non-Executive Director of the Company, one of the directors nominated by SLI, has tendered his resignation which shall be effective from the close of business hours of January 20, 2021. In his resignation letter he has stated that since he has retired from the board of Standard Life Aberdeen and stepped down as Chief Executive, he therefore deems it appropriate to also resign as a Non-Executive Director of the company. Mr. Skeoch has confirmed that there is no other material reason other than above for his resignation. The Board places on record its sincere appreciation for the contributions made by Mr. Skeoch during his long association with the company.
HDFC Asset Management Company Limited is a mutual fund manager. The Company is engaged in the business of providing asset management services to HDFC Mutual Fund and alternative investment fund and portfolio management and advisory services to clients. The Company offers a comprehensive suite of savings and investment products ranging from mutual funds, including both actively managed and passive options, to portfolio management services and alternative investment opportunities catering to the needs of a diverse customer base. It offers financial management services, financial advisory, brokerage, and consulting services. It has a network of 228 investor service centers (ISCs) across more than 200 cities. The Company offers portfolio management services and separately managed account (SMA) services to meet the investment needs of its clients, including high net worth individuals (HNIs), family offices, domestic corporates, trusts, provident funds, and domestic and global institutions.