UTI AMC has appointed Imtaiyazur Rahman as the acting CEO with immediate effect. Rahman is the senior most official of the company. He is also group president and Chief Finance Officer of the company.
The decision has come after Leo Puri resigned as the MD and CEO of the company. Media reports suggest that UTI AMC’s shareholders such as SBI, PNB, LIC and Bank of Baroda are not in favour of extending the tenure of Leo Puri as the CEO and MD even though T Rowe Price was keen on extending it.
In a press release, D K Mehrotra, Director UTI AMC said, “Rahman has been with UTI for a long time and has performed a good job in various functional areas. He brings with him a rich experience and maturity which will help bring the team together and take UTI forward.”
UTI Mutual Fund is the sixth largest fund house in terms of assets. It manages AUM of Rs.1.53 lakh crore as on June 30, 2018.
