Veteran Fund Manager Lakshmi Iyer Moves to Bajaj Finserv After Two Decades at Kotak

Lakshmi Iyer, a prominent figure in India's fund management sector, has resigned from Kotak Mahindra Group after more than two decades to join Bajaj Finserv Ltd. This significant move sees Iyer, formerly the Chief Executive Officer of Investments and Strategy at Kotak Alternate Asset Managers Ltd., transitioning to the expanding Bajaj Finserv financial conglomerate.

Bajaj Finserv share price is currently ₹1,997.80, reflecting a slight dip of 0.97% today as of 11:24 am IST.

A New Chapter for a Seasoned Professional

At Kotak Alternate Asset Managers, Iyer was instrumental in overseeing a substantial portfolio of approximately US$20 billion in assets, including over US$6 billion across 14 private credit funds. A significant portion of these assets came from overseas investors. Her extensive experience in managing such a diverse and large asset base is expected to be a major boost for Bajaj Finserv.

Bajaj Finserv's Strategic Growth

Bajaj Finserv, led by Sanjiv Bajaj and primarily known for its retail credit offerings, has been actively expanding its financial services footprint. The recent establishment of Bajaj Finserv Asset Management Ltd. indicates its growing ambitions in the fund management space.

Iyer's appointment is a strategic step to bolster this new venture with seasoned leadership and expertise. This aligns with other recent leadership strengthening moves, such as Rajeev Jain's appointment as additional director of Bajaj Finserv.

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Conclusion

Lakshmi Iyer's move from Kotak Mahindra to Bajaj Finserv marks a notable shift in India's financial landscape. Her vast experience in alternate asset management is set to significantly enhance Bajaj Finserv's efforts to establish a stronger presence in the investment sector, reflecting the dynamic nature of the industry. 

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