UTI Mutual Fund announced the appointment of Leo Puri as its Managing Director of UTI AMC. The appointment proposed by the Board of Directors was approved by the shareholders in an EGM held in Mumbai on Wednesday, July 3, 2013.
Interestingly, Leo has been appointed as Managing Director and not as Chairman.
Speaking on the appointment, P R Khanna, Director, UTI AMC said “We are pleased to have a professional of the caliber of Mr. Puri on board of UTI AMC. Mr. Puri brings three decades of valuable experience in the financial services industry, and we are certain that he will be able to take the organisation to higher levels of excellence. On behalf of the board, I extend a very warm welcome to Mr. Puri.”
Leo Puri, 52, holds a dual master degree holder from Oxford and Cambridge University, UK. In his professional career, spanning more than 30 years, Leo has worked as Director and Senior Advisor with McKinsey & Company and as Managing Director with Warburg Pincus. Leo has worked in the UK, and USA. Since 1994, he has been based in India.
UTI Mutual Fund has been headless ever since U K Sinha left the fund house to join as SEBI Chairman in February 2011. The fund house appointed Imtaiyazur Rahman as its interim CEO in January 2012.
In another development, Navin Tewari, Head of Sales and Marketing at Birla Sun Life Mutual Fund is believed to be taking up another responsibility in Aditya Birla group and moving to Ultra Tech Cement as Business Head - North.
