UTI AMC starts work on appointing new managing director, chief executive

Its biggest shareholder T Rowe Price had publicly expressed concerns regarding leadership continuity

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UTI Asset Management Company (AMC) has initiated the process for appointment of a new managing director and chief executive. The company, which is the investment manager to the schemes of UTI Mutual Fund (MF), is presently headed by Imtaiyazur Rahman, the chief financial officer who was appointed as the interim CEO after Leo Puri's's five-year contract ended in August. With assets under management of Rs 1.65 trillion as of September, UTI MF was the sixth biggest AMC. The company is seeking an overall work experience of 20 years, with 15 years in financial ...