Nippon Life India names Parag Joglekar as new CFO

19 Sep 2024 , 12:30 PM

Nippon Life India Asset Management Limited (NAM India) has formally selected Parag Joglekar as its new Chief Financial Officer (CFO), effective from September 19, 2024. The decision, approved at a board meeting on September 18, follows recommendations from both the Nomination and Remuneration Committee and the Audit Committee.

Joglekar has over 25 years of financial expertise and formerly worked as CFO at Aditya Birla Sun Life AMC Limited, where he oversaw financial strategy, planning, taxation, and operations. His extensive experience directing big finance teams and overseeing crucial processes is expected to benefit NAM India’s long-term financial strategy.

Joglekar’s experience includes working at Strategic Capital Corporation Private Limited, which broadened his financial knowledge significantly. He is a Chartered Accountant, a Cost Accountant, and has a Bachelor of Commerce degree.

Simultaneously, Amol Bilagi, who has served as temporary CFO since January 2024, will become Deputy CFO. Bilagi’s experience as interim CFO helped shepherd the company through a period of transition, and his ongoing role as Deputy CFO will maintain continuity and support for the company’s financial goals.

NAM India, one of the country’s major asset management firms, sees this leadership shift as a critical step towards supporting its growth and maintaining its competitive edge in the market.

This transition comes at a critical time for NAM India, as the business seeks to strengthen its position in the booming asset management sector. The transition demonstrates NAM India’s commitment to improving internal governance, streamlining financial procedures, and using seasoned leadership to navigate the changing financial landscape.

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