Aashish Somaiyaa resigns from Motilal Oswal AMC; Navin Agarwal to take over

Mumbai: Motilal Oswal Group announced on Friday that Navin Agarwal will take over as managing director and CEO of Motilal Oswal Asset Management Co (AMC), as Aashish Somaiyaa has decided to move on to work for a startup.
Agarwal was the managing director of Motilal Oswal Financial Services (MOFSL) .

“Considering the importance of the asset management business, the MOFSL board has decided that Navin Agarwal who has been with MOFSL over the last 20 years and has been instrumental in developing the entire portfolio of MOFSL'businesses, will relinquish executive responsibilities at MOFSL and take up full time assignment as Managing Director and CEO of MOAMC,” Motilal Oswal said in a note.


The company also informed that its board has approved the appointment of Rajat Rajgarhia as the whole-time director and designated director of MOFSL, subject to approval of the shareholders and stock exchanges.

Somaiyaa joined Motilal Oswal AMC in January 2013, and has been instrumental in growing the asset management business for Motilal Oswal group.