Farokh Subedar has been appointed as chairman of Tata Asset Management (TAML) with effect from Jun. 11, 2014. Farrokh Kavarana, who was chairman, TAML for over 12 years, retired having attained the retirement age of 70 years.

In addition to his current executive responsibility as chief operating officer of Tata Sons, Subedar is the vice chairman of Tata Investment Corporation and a director on the boards of several Tata companies, including Tata Capital, Tata Capital Financial Services and Tata AIG General Insurance Company in the financial services sector.