Mumbai: IPO-Bound UTI mutual fund appointed Imtiyazur Raman as full time CEO. The UTI Board of Directors elevated its acting CEO of nearly two years on late Friday.

Rehman has been at the helm of affairs at India’s oldest fund house since its former MD Leo Puri demited office in August 2018. Earlier Rehman was acting CEO in 2001 as well, when the fund house’s former Chairman UK Sinha had quit heading markets regulator SEBI.

The asset management had filed for an IPO in December, an Rehman’s appointment addresses one of the concerns of SEBI, which had questioned the company’s decision to tap public money without a full time executive head in place. The proposed listing, on the other hand, will address another SEBI concern. For long, the regulator had been uncomfortable at about UTI MPs share holding structure.