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IIFL Asset Management Company (AMC) said on Tuesday it has hired DSP BlackRock Investment Managers’ Anup Maheshwari as joint chief executive officer and chief investment officer.

The appointment will come into effect from mid-August, IIFL AMC said in a statement. Prashasta Seth is currently the company's CEO.

Maheshwari will be responsible for investment and strategy for IIFL AMC’s business, including mutual funds and alternative investment funds, the company said.

At DSP BlackRock Investment Managers, Maheshwari was chief investment officer of equities. He had been with DSP BlackRock from July 1997 to June 2012, and managed its domestic funds from May 2001.

He had a short stint with HSBC Asset Management as chief investment officer between December 2005 and May 2006 before returning to DSP BlackRock.

Before joining DSP BlackRock in July 1997, he had worked for Chescor, a British fund management firm that used to run three offshore funds investing in Indian equities.

Maheshwari is an alumnus of the Indian Institute of Management, Lucknow.

“Maheshwari’s experience in investment management, both offshore and onshore, will be highly advantageous to IIFL AMC,” said Karan Bhagat, founder and chief executive officer of IIFL Investment Managers.

IIFL AMC is an asset management firm with presence in mutual funds, alternative investment funds and portfolio management services spanning public and private equities, real estate and fixed-income securities.

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