New Delhi, Dec. 3 -- Quant Mutual Fund confirmed it has appointed a new chief executive in an effort to decouple the CEO and CIO (chief investment officer) functions currently held by founder Sandeep Tandon.

The new chief executive, who is set to join in April 2025, is a mutual fund industry outsider - from a global financial conglomerate - according to a source. "We have closed the appointment of a chief executive officer, who is someone with strong regional and global experience. We expect the CEO to join us by April 2025," Quant said in its latest factsheet. It did not disclose more details to comply with regulations.

The asset management company (AMC) has hired six people for top management roles in the past nine months, including c...