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HSBC India fund unit head of equities quits

MUMBAI
Thu Jan 29, 2009 3:09am EST

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MUMBAI (Reuters) - HSBC's (HSBA.L) Indian mutual fund unit head of equities, Mihir Vora, has resigned, a top official said on Thursday.

"He has put in his papers but he is still with us for some time to ensure that there is smooth transition," Vikramaaditya, chief executive of HSBC Asset Management (India) Pvt Ltd, told Reuters.

The firm was yet to decide on a replacement, he added.

Vora could not be reached immediately for his comments.

Last month, the fund house lost its head of fixed income Shailendra Jhingan to ICICI Securities, while Pioneer Global, the fund arm of Italy's bank UniCredit (CRDI.MI), hired HSBC fund manger Alok Sahoo as head of fixed income earlier this month.

HSBC Asset Management, which had an average assets under management of about 101 billion rupees (1.5 billion pounds) in December, has promoted Suyash Choudhary as fixed income head.

(Reporting by Nishant Kumar; Editing by Harish Nambiar)


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