Tata Asset Management (TAM) today said it has appointed Farokh Subedar, who is on the boards of several Tata Group firms, as new its Chairman.
Subedar succeeds Farrokh Kavarana, who has retired.
Kavarana served as Chairman of TAM for over 12 years before retiring at the age of 70, a company release said here.
Tata Sons owns 67.91 per cent stake in the company, one of the oldest fund management firms in the private sector.
In addition to his current executive responsibility as Chief Operating Officer of Tata Sons, Subedar is Vice-Chairman of Tata Investment Corporation and a director on the boards of several Tata Group companies, the release added.
