Industry Movements of the Fortnight: LIC & HUL

EA Sundaram, one of the most experienced fund managers in India, has recently joined Pramerica Mutual Fund to look after portfolio management services. Sundaram, along with Prashant Jain and Chandresh Nigam, was part of Zurich Mutual Fund where they had collectively decided to stay away from IT stocks in 1999. Pramerica MF is sponsored by Prudential Financial Inc.

Unilever has appointed Nitin Paranjpe as the head of its global home care business. Replacing him as Hindustan Unilever MD is Sanjiv Mehta (in pic), who heads operations in the Middle East and North Africa. Mehta has been with Unilever for 21 years but has never worked for the company in India.

Usha Sangwan has been named the first female managing director at the Life Insurance Corporation (LIC) of India. Sangwan, an LIC veteran since 1981, has worked for the company in areas like housing finance, direct marketing, international operations and, most recently, served as executive director of communications.