HSBC India's new AM chief shocked by stunted industry

The newly appointed CEO of HSBC Global Asset Management’s India business has expressed surprise at the slowness of the mutual fund industry’s growth domestically. Puneet Chaddha describes himself as “a rank outsider” to the industry, having most recently worked as head of commercial banking for HSBC in India. He took up his present role last month after incumbent Vikramaaditya transferred to London as head of business strategy. “I am surprised this industry has not grown more th…