UTI AMC, which plans to launch its Initial Public Offering (IPO) shortly, has recently appointed Imtaiyazur Rahman as the new Chief Executive Officer (CEO). Rahman has been the acting CEO of the company for nearly two years. He was Chief Financial Officer (CFO) of the company and has headed diverse functions, including international business.
The post of the CEO was vacant after Leo Puri completed his five-year term in August, 2018. With this new appointment, the asses management company addresses the concerns of Securities and Exchange Board of India (SEBI) on the CEO position which has been vacant for quite some time. The company has already filed draft papers with SEBI for IPO in December 2019.
Rahman joined the UTI Group in 1998 and is with the AMC since 2003. He was involved in the transformation of the organisation after restructuring of the erstwhile Unit Trust of India. On an earlier occasion too, when UK Sinha retired, Rehman was appointed as interim CEO 2012-13.
This appointment brings stability in the top management of the company especially since it is planning to launch its IPO shortly, UTI AMC said in a statement.