Karvy group initiates corporate restructuring - Mumbai

Appoints Mr. Amitabh Chaturvedi as Group CEO – Financial Services

Mumbai, December 31, 2019: The Karvy Group announced today that it is in the process of restructuring its overall business into two verticals - Financial Services and Non- Financial Services. As a part of this process, the company has also initiated a major management reshuffle. The move is expected to improve the overall governance and functioning across the enterprise.

Mr. C Parthasarathy, Chairman, Karvy Group, announced the appointment of the industry veteran Mr. Amitabh Chaturvedi as Group CEO - Financial services with a mandate to completely overhaul the governance processes, ensure best practices and to bring in greater fiduciary discipline to these businesses. He has previously been associated with leading organizations such as Dhanalakshmi Bank, Reliance AMC, ICICI and the Essel Group and has over 30 years of experience in the financial services space.

Speaking on this development, Mr. C Parthasarathy, Chairman, Karvy Group, said, “We welcome and are extremely pleased to announce the appointment of Mr. Amitabh Chaturvedi as Group CEO - Financial Services. We look forward to scaling new heights under his leadership. His extensive experience and incisive vision of the financial services sector will definitely enhance our brand value.”

Mr. Amitabh Chaturvedi, said, “It gives me immense pleasure to be a part of Karvy, a financial services Group that has been a front runner in the sector for more than three decades. The leadership team will work on making the brand stronger and with fund raising we shall see it reaching new heights.”

The restructuring will see stock broking, wealth management, commodities trading and investment banking among others come under the ambit of Financial Services while Non-Financial services will comprise of data management services, data analytics, market research and allied businesses. Changes in senior management are also being initiated and an experienced team would assist Mr. Chaturvedi in implementing the Group's vision of having a strong presence in the financial services space.

About the Karvy Group:

The Karvy Group, established in 1982 and headquartered at Hyderabad, is present across the entire spectrum of financial services, such as stock broking, distribution of financial products (including equities, mutual funds, bonds, IPOs, and fixed deposits), wealth management, corporate finance, commodities broking, NBFC, data management services, investment banking, and depository participant, among others.