HDFC Asset Management Company (AMC), on November 16, appointed Navneet Munot as the Managing Director (MD) & Chief executive officer (CEO).
Navneet Munot is currently the chief investment officer (CIO) at the SBI Mutual Fund company, where he has worked for 12 years.
HDFC AMC in a regulatory filing on Monday said, “The Board of Directors is pleased to inform that at its meeting held on November 16, 2020, has approved that Mr. Navneet Munot will be appointed as Managing Director & CEO of the Company and he will succeed the present Managing Director, Mr. Milind Barve.” 
In a separate statement, SBI Funds Management said’ “Munot has decided to leave the organization to pursue other opportunities. The fund management structure at SBI Funds Management will continue to remain the same as the company over a while has built a very capable second line with strong vintage”. 
“Navneet has been part of this team of skilled and experienced senior fund managers and has overseen many of their achievements. We value his contribution to the organization and wish him the best in all his future endeavors,” said Vinay Tonse, SBI Funds Management MD and CEO.
SBI Funds Management is the largest fund house in the country, managing assets of over Rs 4.5 lakh crore, while HDFC MF has an asset base of Rs 3.75 lakh crore.