UTI Mutual fund’s Managing Director Leo Puri has stepped down from his position amidst an ongoing row with the company’s board. As per the industry sources, Puri was stressing upon to remain as the MD until the company opts for an IPO.
Reportedly, Imtaiyazur Rahman who is the current Chief Financial Officer of the company will be the interim head until the board appoints a new chief for the company. The UTI board is most likely to congregate in January next year to finalise the name of its new Chief Executive Officer (CEO).
Imtaiyazur Rahman is the head of the global operations for UTI and also supervises the fund management, taxation and board related matters. He holds more than 25 years of experience in the Banking, Financial Services and Insurance (BFSI) sector and is an industry veteran.
He is also a part pf the Board of UTI International (Singapore), Offshore Funds of UTI International, and Invest India Micro Pension Ltd. He is a Member on Investment Committee of Ascent Capital (PE).