Date:11/03/2005 URL: http://www.thehindubusinessline.com/2005/03/11/stories/2005031101760200.htm

Back ITC's head of treasury quits

Nilanjan Dey

Kolkata , March 10

MR SUDIP BANDYOPADHYAY, head of treasury at ITC Ltd, has put in his papers to begin his own start-up, which will focus on distribution of financial products, portfolio management and equity advisory.

Mr Bandyopadhyay, who spent close to 20 years with the cigarette major, will head the venture.

When contacted, the former ITC executive said the venture would be headquartered at Kolkata and would aim at building a national network. It has appointed Adfactors, the communications agency, to devise a strategy.

"We are considering a few options with regard to the final structure of the company. The idea is to work out the best possible model. We are yet to christen it", he told Business Line.

The start-up will act as a distributor of savings and investments products, including mutual funds and insurance. It will also be engaged in housing finance.

Mr Bandyopadhyay, incidentally, has also served on the board of Russel Credit Ltd, a subsidiary that operates as a specialised investment outfit. He is well known in local investment circles, especially to those in the asset management and equity broking businesses.