Angel One Appoints Hemen Bhatia as CEO of Asset Management Business

New Delhi, Dec 13 (PTI) Fintech player Angel One on Wednesday said Hemen Bhatia has joined as chief executive officer of its asset management business.

His joining will strengthen the position of Angel One Asset Management Company Ltd as a prominent player in passive investing space, Angel One said in a statement.

Bhatia was former Head of ETF (Exchange Traded Fund) at Nippon Life India AMC. He played a key role in setting up CPSE ETF at Goldman Sachs AMC and has over 17 years of experience in the asset management industry.

Throughout his career, he played a key role in the evolution of the ETF market in India and has facilitated the growth of the passive fund management industry.

"He will lead the strategic direction and growth initiatives, focusing on crafting innovative investment strategies, forging key partnerships and positioning Angel One as a leader in the passive investment space in India," the statement noted.

In 2016, Reliance Nippon Life Asset Management started managing all schemes of global giant Goldman Sachs Mutual Fund. This came after Reliance Nippon Life Asset Management, in October 2015, announced takeover of Goldman Sachs Mutual Fund business in India for Rs 243 crore in an all-cash deal.