ABN Amro AM India hires head of compliance

ABN Amro Asset Management in India has appointed Hemanti Wadhwa as its new head of compliance, legal and risk management.

Wadhwa joins from rival Deutsche Asset Management where she held a similar role as head of compliance, legal and risk management. She has more than 10 years experience under her belt, and her previous roles include stints with SBI Funds Management and Kotak Mahindra AMC.

ôIndia is an exciting market because of the low penetration of Indian investors investing in asset-management products,ö says Nikhil Johri, managing director at ABN Amro Asset Management in India.

ôThe underlying theme therefore for global asset managers in India is to attract savings from investors who are receiving lower interest rates at the banks. There is also a focus on compliance; as a growing market, India has associated risks, which is why we need a strong team on board.ö

WadhwaÆs hire follows the earlier appointment of KC Reddy as chief investment officer for the groupÆs Indian operations. In what was a newly created role, Reddy now leads a team of 11 investment professionals across equities and fixed income asset classes.

The fund house says it has ambitious efforts to strengthen its investment team, improve the performance of its portfolios, and prepare for the launch of more funds.