Mr. Nilesh Sathe, Chief Executive Officer (CEO) of LIC Nomura Mutual Fund Asset Management Company has been appointed as Member – Life at Insurance Regulatory and Development Authority of India (IRDAI). He has been appointed to fill up the position vacated by Mr. Sudhin Roy Chowdhury when he retired in February 2014.
Nilesh Sathe is a postgraduate from G.S. College of Commerce & Economics, Nagpur. Before joining LIC in 1983 as a Direct Recruit Officer, he worked in Canara Bank and Bank of India, during which he passed CAIIB conducted by Indian Institute of Bankers. Before joining LIC Nomura Mutual Fund AMC Ltd. as CEO, he headed the Northern Zone of LIC of India as Zonal Manager. He held various positions in LIC, as Executive Director (Mktg. /CLIA), Chief (SBU/P&GS) and Sr. Divisional Manager of two prestigious Divisions of Mumbai.
Mr. Sathe has confirmed that he has got the appointment letter to work as Member – Life, at IRDAI on June 12. He will assume the new assignment on 1st July 2015 and will be based out of IRDAI headquarters at Hyderabad.
