Religare Enterprises has elevated Nalin Nayyar as chief executive officer (CEO) of its asset management arm Religare Global Asset Management (RGAM), the firm said on Monday. Nayyar was previously head of the investment banking unit.
Earlier, Religare Enterprises' Group CEO Shachindra Nath used to oversee the asset management arm of the financial services firm.
Nayyar has been working with Religare Group for over four years now and has experience of over two decades in the financial services industry across the US, Europe and Asia. He joined the company as the head of investment banking arm Religare Capital Market Ltd (RCML) and later moved on to handle multiple responsibilities spanning mergers & acquisitions (M&As), equity capital market (ECM), fixed income, corporate lending and project finance.
Previously, he has worked with Lehman Brothers and Citigroup in various positions globally.
Meanwhile, a senior member of the I-banking team Rohit Gulati will take over as managing director and head of investment banking at RCML.
Shachindra Nath, group chief executive officer, Religare Enterprises Ltd, said, “Nalin’s experience in diverse areas including corporate finance, capital markets and asset management will be a great value addition to the RGAM platform. With Nailn’s experience in corporate finance, I am confident that we will be able to solidify our position in executing RGAM’s strategy of building on the AUM, launching more products and expanding our affiliate base.”
Nalin Nayyar, chief executive officer, RGAM, said, “Guiding RGAM through its next phase of growth and building on the ground work done by the entire team promises to be exciting and challenging.”
Religare Global Asset Management (RGAM) is a $20 billion assets management platform. With a presence across the US, Europe and Asia, it facilitates the development of affiliates and the underlying businesses/funds through access to its distribution and service teams, helping them raise capital and service investors.
RGAM has backed or sponsored alternative investment funds such as YourNest Angel Fund, Northgate Capital, Landmark Partners, Religare Credit Advisors, Quadria Capital, India Build-Out Fund I and Value Quest capital.
(Edited by Joby Puthuparampil Johnson)