Nippon Life India AIF Management Limited, a subsidiary of Nippon Life India Asset Management Limited (NAM India), has announced the appointment of Ashish Chugani as the head of Alternative Assets for its AIF business, with effect from July 1.

Chugani has succeeded Shahzad Madon who is attaining superannuation on June 30.

In this role, Ashish will lead strategic initiatives and business operations for the development and management of NAM India’s AIF business. He will report to Sundeep Sikka, ED & CEO NAM India.

Ashish has over 30 years of experience, working in companies like Tata Capital, Centrum, Citibank, Arthur Anderson, Cambridge Place Investments Management, Ankar Capital Management, and Antfactory to name a few which gave him the experience in working across multiple investment asset classes.

"AIF is the focus of the company, and we believe his expertise across asset classes would help us grow business both domestically and internationally. We would also like to thank Shahzad Madon for his contribution to leading this business for more than a decade. We wish him the best of luck in his future endeavours,” said Sikka.