Reliance Capital CEO to step down

Executive departs after nine years heading the group, which is involved in both general and life insurance

Reliance Capital CEO to step down

Insurance News

By Gabriel Olano

The CEO of Reliance Capital, an India-based financial services group, will be leaving the company after nine years at the helm, the company has announced.
In a sudden departure, Sam Ghosh, who joined the company in 2008 as group chief executive officer, will step down from his position effective March 31.
The company, which offers general and life insurance, mutual funds, pensions, and securities broking, said in a regulatory filing that Ghosh’s term will end on March 31, and the appointment of his successor will be announced soon.

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“During this entire period (of nine years), Ghosh has served Reliance Capital with great passion and commitment, and contributed towards building up a strong portfolio of businesses across asset management, life and general insurance, commercial and housing finance, broking and distribution among others,” the company said in its filing.
Ghosh, a Chartered Accountant from England, was a key figure in several deals and alliances forged by Reliance Capital, supervising the company’s divestment of non-core assets to fuel extensive expansion of core operations.
Prior to Reliance Capital, Ghosh was with Allianz, holding various positions across the globe, such as India, Southeast Asia, and Australia. He also served as CEO of Bajaj Allianz’s Indian operations.

“The board of directors of Reliance Capital and all its people thank Ghosh for his service, and wish him the very best in his future endeavours,” the company said.

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