Baroda BNP Paribas Asset Management India has appointed Madhu Nair as its new Chief Executive Officer, succeeding Sanjay Kumar Grover.
Grover, who was on deputation from Bank of Baroda, led the organisation through a period of growth. Nair will now oversee the fund house as it seeks to expand its presence in India’s growing mutual fund market.
"We are delighted to have Mr. Nair lead the team at Baroda BNP Paribas Asset Management. We believe that under his leadership, our mutual fund venture will be better positioned to leverage our large customer base and Bharat reach to make market-linked investment solutions accessible to a wider audience," said Beena Vaheed, Executive Director, Bank of Baroda and Chairperson of the Board of Baroda BNP Paribas Asset Management (BBNPAM).
Nair brings over 28 years of experience in asset management, having held senior leadership positions at HSBC, Invesco and Kotak. He most recently served as CEO of Union Mutual Fund.
An alumnus of Harvard Business School, Nair has experience across investment management, distribution and retail investor engagement.
"We are pleased to welcome Madhu, whose leadership and deep industry experience will help accelerate the next phase of growth for the Indian asset management joint venture. We believe the Indian market offers tremendous long-term potential as more savers embrace market-linked investment solutions to build wealth. BNPPAM is proud to support Baroda BNP Paribas Mutual Fund in developing products that help Indian customers achieve their financial aspirations," said Vincent Trouillard Perrot, Managing Director, Strategic Participations and JVs at BNP Paribas Asset Management and Associate Director of the Board of Baroda BNP Paribas Asset Management.
Baroda BNP Paribas Asset Management had crossed Rs 57,000 crore in average assets under management as of July 31, 2026. The company is a joint venture between Bank of Baroda and BNP Paribas Asset Management Asia.
"I am deeply honoured by the trust and responsibility placed in me by the shareholders and Board of Baroda BNP Paribas Asset Management. With the continued support of our shareholders and the commitment of our employees, I am confident we will bring alive our brand promise of 'Together for More' for all our investors, partners, shareholders and employees. I look forward to leading the organisation through its next phase of growth and creating long-term value for all our stakeholders," said Madhu Nair, Chief Executive Officer, Baroda BNP Paribas Asset Management.
In his new role, Nair will focus on scaling the fund house while strengthening its investment capabilities, distribution and investor engagement.
