SBI Funds Management Ltd (SBIFML), a joint venture between State Bank of India and Amundi, Europe’s largest asset manager, has appointed Shamsher Singh as managing director (MD) and chief executive officer (CEO) of the company.

Singh, who was the deputy managing director of State Bank of India (SBI), will take over as MD and CEO of SBIFML from Vinay M Tonse on his repatriation to State Bank of India.

Singh comes with more than 32 years of extensive experience working with State Bank of India in various verticals including investment banking, finance, corporate banking and banking. 

He joined the Singh as a probationary officer in June 1990 and rose through the ranks to become a deputy managing director successfully handling leadership roles across regions in addition to doing international work in US, Bahrain and UAE.

Prior to his appointment at SBIFML, he headed the Ahmedabad Circle of SBI as the chief executive officer from November 2020 and was responsible for business growth and ensuring regulatory compliance across more than 1400 branches of SBI. He heads the retail business operations of SBI across the state of Gujarat and the Union Territory of Dadra and Nagar Haveli & Daman and Diu.

“It is an honour to be a part of SBI Funds Management Limited and a huge responsibility to manage the growth dynamics of the No. 1 mutual fund house in the country. I am committed to our mission to be an ethical, responsive and innovative partner in investment solutions while continuously delivering value to our investors and distribution partners,” said Singh.

“Our goal as a market leader is to be home investors consider mutual funds more when planning for their financial goals as we reach out to investors with our offerings across portfolio management services, diversified investment funds and offshore funds. As I embark on this new journey, I am confident that SBI Financial Management will continue to reach new heights and new heights while serving our stakeholders,” he added.