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Icici Bank Official Quits

Icici Bank Official Quits - Nilesh Shah, deputy managing director of ICICI Prudential Asset Management Co., one of India's largest mutual fund firms, has quit.

Mr. Shah said in a text message that he is taking "a break" before deciding about the future.

An ICICI Bank spokesperson said that he will continue at the company for a while to ensure smooth transition, but could not give a specific date of his departure.

ICICI Prudential is a joint venture between ICICI Bank and U.K.'s Prudential Plc., and it manages 700 billion rupees ($15.5 billion) in mutual fund assets as of September 30.

Mr. Shah joined the firm in 2004 as its chief investment officer. He has more than 17 years experience in the banking and financial services industry, primarily in the fixed income market.

Icici Bank Official Quits
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