India's top credit rating agency CRISIL Ltd, majority owned by S&P, has named Ashu Suyash as managing director and CEO with effect from June 1, 2015, it said late on Monday.
Suyash, who has over two-and-a-half decades of experience in the finance sector, will join CRISIL from L&T Investment Management Ltd where she has been serving as CEO. Under her leadership, the firm's assets under management (AUM) have doubled in the last two years to over Rs 22,000 crore. She is also responsible for L&T Capital Markets, the wealth management arm of L&T Finance Holdings, which separately has AUM of Rs 6,500 crore.
The 47-year-old joined L&T Finance’ asset management unit as part of its acquisition of Fidelity's asset management unit in India.
Suyash, a chartered accountant, had set up Fidelity's mutual fund business in India way back in 2004 and was its managing director and country head. Previously, she worked with Citigroup India.
"Her professional track record in the financial service sector and her leadership skills will benefit CRISIL. I look forward to working with Ashu to enhance CRISIL's leadership position in providing independent ratings, research as well as risk and policy advisory services to clients in India and around the world," said Douglas Peterson, chairman of CRISIL.
Suyash will be taking over from Roopa Kudva who took over as CRISIL’s CEO in 2007. Last September, CRISIL announced that Roopa has decided to step down and her resignation is due until the company finds a replacement.
On Tuesday, shares of the company were trading at Rs 2,043 each at 12.34 PM, down 1.51 per cent on the BSE in a strong Mumbai market.
(Edited by Joby Puthuparampil Johnson)