UTI board has discussed the appointment of Leo Puri as the AMC’s chairman yesterday, say sources
Leo Puri, senior adviser with McKinsey India has reportedly been chosen to be the chairman of UTI AMC. After a trustee meeting on August 16, the AMC board too held a board meeting in Delhi the next, say sources.
U K Sinha left UTI AMC in February 2011. The AMC had appointed Imtaiyazur Rahman as its interim CEO in January this year. UTI’s assets slipped after U K Sinha left the fund house as it was not able to launch new schemes.
Four public sector companies - Life Insurance Corporation of India, Bank of Baroda, State Bank of India and Punjab National Bank hold 18.50 % each in UTI AMC while its US based partner T Rowe Price holds the rest 26% stake, which it picked up in January 2010.
UTI AMC’s AUM increased 3% from Rs 58922 crore in March to Rs 60923 crore in June.
