SBI Funds Management Private Limited (SBIFMPL, a joint venture between State Bank of India (“SBI”), India’s largest bank, and Amundi, Europe’s largest asset manager, today announced the appointment of Mr Vinay M Tonse as MD & CEO of SBI Funds Management Pvt Ltd.
Mr Vinay M Tonse takes over as the Managing Director & Chief Executive Officer with effect from 24th August 2020 from Mr. Ashwani Bhatia who now returns to parent State Bank of India (SBI) as its Managing Director.
Mr. Tonse joined State Bank of India as a Probationary Officer in 1988 and has worked across different locations in India and abroad. Over his tenure of 32 years with the State Bank of India, Mr. Tonse has traversed through various functions and assignments possessing rich experience in several facets of Commercial banking such as Corporate Credit, Treasury, Retail and International Banking.
Before joining SBI Funds Management Private Limited, he was serving as the Chief General Manager of the Chennai circle at State Bank of India (SBI) and was heading SBI’s Business & Operations in the State of Tamil Nadu and Union Territory of Pondicherry. He also headed the operations at SBI Osaka Branch – Japan as CEO for 4 years. In his early days, Mr Tonse also worked as an Officer with SBI’s Singapore office.
Speaking on this occasion, Mr Tonse said ‘It is truly an honour to be a part of SBIFMPL. It is a huge responsibility to manage the growth dynamics of the number one fund house in the country. One which offers best-in-class investment solutions through a process driven approach which is high on transparency, convenience and value creation. With our vast distribution network, we will further strive to take the benefits of capital markets to investors across the country. I am excited to begin this new journey in the Mutual Fund industry, which will need to leverage technology to drive the next level of growth.’’