LIC Nomura Mutual Fund names Sarojini Dikhale as CEO

NEW DELHI: LIC Nomura Mutual Fund AMC today named Sarojini Dikhale as new chief executive officer -- the only woman leading an Asset Management Company in the country.

She succeeded Nilesh Sathe, who has joined Insurance Regulatory and Development Authority of India ( Irda). He has a four-year long tenure at the Hyderabad-based insurance sector watchdog.

The fund house is a joint venture between state-run insurance behemoth LIC and Japan's Nomura Asset Management Strategic Investment.

"LIC Nomura Mutual Fund AMC today announced the appointment of Dikhale as its new Director and chief executive officer," it said in a statement.

Dikhale, who brings with her a rich experience of over 32 years in insurance industry, joins the asset management company from Life Insurance Corporation of India (LIC) where she served the company as an Executive Director, it said.

In May, the asset management company had appointed Saravana Kumar as the Chief Investment Officer, Equity and Debt, and Nityanand Prabhu the Chief Operating Officer (COO).