SBI MF appoints Vinay Tonse as MD & CEO

Mumbai: SBI Funds Management said it has appointed Vinay M Tonse as MD & CEO, replacing Ashwani Bhatia who returned to parent State Bank of India (SBI) as its Managing Director.

Tonse joined SBI as a Probationary Officer in 1988 and has worked across different locations in India and abroad. Over his tenure of 32 years with the State Bank of India, he has traversed through various functions and assignments possessing rich experience in several facets of commercial banking such as corporate credit, treasury, retail and international banking.

India’s biggest fund house SBI Funds Management or SBI Mutual Fund is a joint venture between top Indian lender SBI and Amundi, Europe’s largest asset manager.

Prior to his appointment in SBI Funds Management, Tonse was serving as the chief general manager of the Chennai circle at SBI and was heading the lender’s business & operations in Tamil Nadu and Pondicherry. Earlier, he also headed the operations at SBI Osaka Branch – Japan as CEO for 4 years. In his early days, he also worked as an officer with SBI’s Singapore office.

On Friday, the government appointed Bhatia as MD of SBI, up to the date of his superannuation, that is May 31, 2022. He was appointed in the place of PK Gupta who superannuated on March 31. Bhatia has already spent 34 years with the State Bank group , his profile on professional networking website LinkedIn showed.