3i Group‘s Southeast Asia head Mark Thornton is leaving the private equity firm after 16 years, Reuters reported. Going forward, Anil Ahuja will lead the firm’s Singapore and Indian businesses, reporting to Bob Stefanowski, chairman of Asia and America. Thornton joined 3i Group in 1995.
(Reuters) – 3i Group’s Southeast Asia head Mark Thornton is leaving after about 16 years with the British private equity firm.
Anil Ahuja will lead the firm’s Singapore, as well as its Indian businesses, reporting to Bob Stefanowski, chairman of Asia and America, the company said in an email, confirming an earlier Reuters story about Thornton’s departure.
“After 16 years with 3i, including 10 years in Asia, most recently as managing partner, Singapore, Mark Thornton will leave 3i at the end of June 2011,” 3i said.
Thornton “decided to take time out,” a source told Reuters, adding he is not joining any company in the near future.
He joined 3i in 1995 and spent five years in the United Kingdom before joining 3i’s Asia-Pacific business, where he played a lead role in the opening of the firm’s Hong Kong office, managed the firm’s Japanese business and then led 3i’s South East Asia business based in Singapore, according to the firm’s web site.
3i has invested in companies such as Asia Capital Reinsurance and oil services firm Franklin Offshore, which both are likely to seek listings in the future, banking sources said. (Reporting by Saeed Azhar; Editing by Raju Gopalakrishnan)