Anmol Ambani, the eldest son of Reliance group chairman Anil Ambani, has been appointed on the boards of Reliance Nippon Life Asset Management (RNAM) and Reliance Home Finance (RHF).
Anmol Ambani, the eldest son of Reliance group chairman Anil Ambani, has been appointed on the boards of Reliance Nippon Life Asset Management (RNAM) and Reliance Home Finance (RHF).
The boards of directors of Reliance Nippon Life Asset Management (RNAM) and Reliance Home Finance (RHF) have appointed Anmol Ambani onto their respective boards, said Reliance Capital, a part of Reliance group, in a statement today.
Anmol Ambani, 26, is currently the Executive Director of Reliance Capital, the holding company of the group's financial services businesses.
"Anmol has effected significant changes to the senior leadership team in the group companies, attracting a string of top talent from reputed companies. This positions us better for future growth, has helped bring in fresh thinking and augurs well for the culture change Anmol is driving across the group, Anil Dhirubhai Ambani said.
Anmol was inducted into the board of Reliance Capital in August 2016.
He has played an active role in steering the strategy and performance of the operating companies working closely with their respective CEOs, and in bringing about greater cohesion among group entities, Anil Ambani added further.
"In a fast-growing economy, the potential for both Reliance Nippon Life Asset Management and Reliance Home Finance is immense... We are capturing these opportunities as our recent financial performance reflects," Anmol Ambani said.
Meanwhile, Reliance Nippon Life Asset Management (RNAM) today reported a 35 per cent jump in its net profit to Rs 162 crore in the January-March quarter of 2017-18.
In comparison, the company had posted a net profit of Rs 120 crore in the year-ago period, Anil Ambani-led Reliance Group's firm said in a regulatory fling to the stock exchanges.
The company's total revenues increased to Rs 514 crore during the quarter under review from Rs 406 crore in the three months ended March 31, 2017.
RNAM, which made its stock market debut in November last year, is the only listed asset management company (AMC) in India.
Besides, the company has proposed a total dividend of Rs 6 per share for the last fiscal.
RNAM, jointly owned by Japan's Nippon Life and Reliance Capital, is the asset manager to Reliance Mutual Fund. RNAM, which manages mutual funds, pension funds, and offshore funds among others, has an asset base of over Rs 3.96 lakh crore. This includes Rs 2.45 lakh crore for mutual funds.
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 "Anmol Ambani enters boards of Reliance Nippon Life AMC, Reliance Home Finance")
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