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The board of UTI Asset Management Company has appointed Group President and Chief Finance Officer Imtaiyazur Rahman as acting Chief Executive Officer with immediate effect, a press release from the fund house stated.
He will look after the day-to-day operations of the company. Rahman has been appointed after Leo Puri resigned as Managing Director and Chief Executive of UTI Mutual Fund. Puri was not in favour of an extension to his five-year contract, which ended on August 13, amid differences among board members.
With 25 years of experience, Rahman currently heads the finance, accounts, taxation, board-related matters, global operations, IT, administration, estates, fund management and also co-ordinates its private equity arm.
He is also on the board of UTI International Singapore, Offshore Funds of UTI International, and Invest India Micro Pension. He has been with the UTI Group since 1998 and with UTI AMC since 2003.
As on June-end, the average assets under management of UTI Mutual Fund stood at Rs 1.53 lakh crore.
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