LIC Mutual Fund on March 1 announced the appointment of TS Ramakrishnan as its managing director and chief executive officer.
Ramakrishnan, who succeeds Dinesh Pangtey, has spent more than 34 years at LIC, its subsidiaries and associate companies. He has served in various positions including, those of regional manager pension group and Scheme in the South Central Zone (Hyderabad) and senior division manager in charge at Delhi 1 & 2.
“Ramakrishnan comes on board at an exciting phase of the journey of consolidating our position in the market. Our objective is to deepen our presence across Tier II, III cities to gain retail penetration,” Nityanand Prabhu, Director and Business Head at LICMF, said.
Before joining LIC Mutual Fund, Ramakrishnan was the Regional Manager-Western Region at LIC Housing Finance Ltd (LICHFL) and subsequently transferred to General Manager LICHFL. He has worked across four zones of LIC, including a stint at ZTC Bhopal as Vice Principal.
“I am excited about the long-term potential of the mutual fund industry on the backdrop of its under-penetration. Coupled with LIC’s strong brand presence across the country and rising significant retail investor interest, we will continue to grow our presence in Tier II, III cities and across the country,” Ramakrishnan said.
