Mirae Asset Global Investments, the Korea-headquartered asset manager, has named a new chief executive for its India business.

With immediate effect, Jisang Yoo becomes CEO, replacing Arindam Ghosh who has held the role since 2007. Ghosh's resignation was accepted by the board "with great reluctance," the firm said in a statement, but former chief had said he wanted to pursue other interests.

Yoo brings more than a decade of financial services experience to her new role. Prior to the appointment, she served as chief financial officer and had been working for the company since 2009.

Mirae Asset India has been enjoying strong growth over the past year, with equity assets under management recorded to have increased 95 per cent since March 2010. It currently has a 10 per cent market share. The company's average assets under management stood at Rs444 crore ($86 million) as of 31 March 2012.