Search narrows for UTI MF chief; board indecision dragging appointment

T Rowe had alleged that conditions had been created to delay the selling of stake as required by regulatory norms

The search agency, which is scouting for UTI Mutual Fund’s next head, has slashed its list from over a dozen candidates, said people in the know.

The people say Chandresh Nigam, managing director (MD) and chief executive officer (CEO) of Axis MF, is one of the top contenders, along with Kailash Kulkarni, CEO of L&T MF. Ashish Kumar Chauhan, MD and CEO of the BSE, is said to have withdrawn from the race.

Text messages from Business Standard to the persons mentioned above got no response.

Imtaiyazur Rahman, chief financial officer of the fund house, is also reportedly a contender; he is the