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Saturday, March 11, 2017

Reliance Capital CEO Sam Ghosh quits

Reliance Capital CEO Sam Ghosh quits after serving for almost 9 years as CEO of Reliance Capital. Reliance in a statement said, Ghosh has contributed towards building a strong portfolio of businesses across asset management, life and general insurance, commercial and housing finance, broking and distribution etc.

Also see: Reliance Capital sold its stake in Paytm for $41 mn

Ghosh had joined Reliance Capital in early 2008 and in mid-2015 was elevated to the board of the company as an executive director. Before joining Anil Ambani-run Reliance Capital, Ghosh, an engineer and a chartered accountant, had spent 10 years with the German financial services major Allianz group, including a stint at its India joint venture Bajaj Allianz as its CEO.

Ghosh was involved in several large deals, joint ventures and divestitures by Reliance Capital. Those deals include getting Nippon Life, one of the largest insurance companies in the world, to buy 49% stake in each of its life insurance and mutual fund businesses.

Reliance also said, the new CEO will be annouced very soon.

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