Veteran Fund Manager Lakshmi Iyer Moves to Bajaj Finserv After 22-Year Stint at Kotak Mahindra Asset Managers

Veteran fund manager Lakshmi Iyer is set to join Bajaj Finserv Ltd, according to Bloomberg. She recently left the Kotak Mahindra Group, where she worked for over 22 years. Iyer held the position of Chief Executive Officer (CEO) of investments and strategy at Kotak Alternate Asset Managers Ltd., a subsidiary managing approximately $20 billion in assets.

Lakshmi Iyer To Join Bajaj Finserv: Bloomberg

Bajaj Finserv under Sanjiv Bajaj's leadership is primarily engaged in retail credit services like consumer loans. The company has also established Bajaj Finserv Asset Management Ltd., marking its entry into the fund management sector in India.

In a strategic move earlier this year, Rajeev Jain was appointed as an additional director of Bajaj Finserv. He also serves as vice chairman of Bajaj Finance Ltd. reflecting the company's focus on strengthening its leadership team.

Leadership Transition at Kotak Mahindra

Representatives from both Kotak Mahindra and Bajaj Group have not yet commented on Iyer's transition. Similarly, Iyer has not responded to requests for comments regarding her new role at Bajaj Finserv.

Who is Lakshmi Iyer? Her Role at Kotak Mahindra Company and Other Experiences

At Kotak Mahindra Asset Management Company (KMAMC), Lakshmi Iyer served as Chief Investment Officer, Fixed Income and Head of Products. In this role, she was responsible for credit research, deal execution, and managing the performance of all debt funds. She also supported the sales team through client interactions. Additionally, she acted as a portfolio specialist and led several product-related initiatives, including product pricing and coordination between the fund management and sales teams.

Before joining Kotak, Ms Iyer worked with Credence Analytics Pvt Ltd as a research analyst. There, she tracked the corporate bond markets in India and produced research reports. She also played a key role in developing various financial software tools, working closely with software developers and technical teams.

Ms Iyer holds an MBA in Finance from the Narsee Monjee Institute of Management Studies.

She has been recognised as one of the Top 25 Most Influential Women in Asset Management in Asia by Asian Investor.

Kotak Alternate Asset Managers Ltd. oversees 14 private credit funds, with more than $6 billion invested. The majority of these assets come from overseas investors, including family offices and high-net-worth individuals, as Iyer shared in an April interview with Bloomberg News.

Bajaj Finserv continues to expand its financial services portfolio, aiming to enhance its presence in the asset management industry. This move aligns with their broader strategy to diversify and strengthen their market position.