UTI AMC installs Leo Puri as managing director
19 August 2013
News, Asia, India
By David Macfarlane
UTI Mutual Fund has confirmed Leo Puri has taken charge as the managing director of UTI Asset Management Company Ltd (UTI AMC) as of August 14, 2013. The appointment was approved by the shareholders in an EGM held in Mumbai on July 3, 2013, following the company’s board of directors proposing the move earlier.
Mr. Puri joins UTI AMC from IT services major Infosys, which he joined the board of in April this year. India's second largest software services exporter said in a release: “Leo Puri, an independent director of the company, has conveyed his intention to step down from the board of directors of Infosys effective August 14, 2013."
Mr. Puri has extensive experience of leading strategy and transformation engagements in the context of economic reforms and deregulation. This includes the largest public and private sector financial institutions in India. He is a dual Masters degree holder from Oxford and Cambridge University, UK. In his professional career of more than 30 years, Mr. Puri has worked as director and senior advisor with McKinsey & Company and as managing director with Warburg Pincus. He has worked in the UK and US and since 1994, has been based in India.
Mr. Puri said: “It is my pleasure to be associated with this great institution, which has been a pioneer in the capital market. Over the last five decades, it has introduced millions of investors to the benefits of investment. It will be my endeavour to continue on this task and make UTI Mutual Fund the most admired brand in the financial services sector.”
UTI Mutual Fund is a Securities and Exchange Board of India (SEBI) registered mutual fund whose sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. It is one of the largest mutual funds in India with 9.68 million investor accounts under its 88 domestic schemes / plans as of July 31, 2013.
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