SBI Mutual Fund appoints Achal Kumar Gupta as the new MD

Achal Kumar Gupta, chief operating officer (COO), has been appointed as the new MD of the asset management business of the country’s largest bank. The fund house has confirmed Mr. Gupta the new designation on back Mr. Syed Shahabuddin’s retirement. The appointment of Mr. Gupta as the managing director of the asset management company is with effect from May 15, 2008.