''Madhu has been a driving force in the growth of our mutual fund business over the last ten years and we now look forward to his valuable contribution across the full spectrum of our businesses," Reliance Capital CEO Sam Ghosh said.
Kela, who is Reliance Mutual Fund's Head of Equities at present, will be replaced by Sunil Singhania, the company said in a filing to the Bombay Stock Exchange. Singhania holds the position of Deputy Head of Equities in Reliance Mutual Fund.
"I am delighted to get this larger canvas with increased responsibilities, and thereby make a wider contribution to the Reliance Capital family," Kela said.
Anil Ambani-led Reliance Capital is a non banking finance company, which manages equity assets of over Rs 50,000 crore spread across businesses like life insurance, mutual funds and private equity.
Published 27 August 2010, 04:14 IST