Neo Hires Nippon Life India Veteran Bhargava for Mutual Fund

Nippon Life India Asset Management Ltd.’s veteran fund manager and head of equity research Ashutosh Bhargava, has resigned and is joining the Neo Group to help set up its mutual fund business, according to people familiar with the matter.

He will take a leadership position in the new venture, said the people who asked not to be identified. The firm is planning to hire a number of senior officials across the industry to run the asset management business, they said.