UTI Mutual Fund Appoints Vetri Subramaniam as New MD and CEO
UTI Mutual Fund, recognized as the seventh-largest asset manager in the nation, has appointed its Chief Investment Officer (CIO), Vetri Subramaniam, to the position of Managing Director and Chief Executive Officer, effective February 1, 2026. He will take over from Imtaiyazur Rahman, who has led UTI since 2018.
This decision comes in light of the planned retirement of Imtaiyazur Rahman, who is set to resign from his role as Managing Director and Chief Executive Officer at the end of business on January 31, 2026.
The board of directors of the company has unanimously endorsed the appointment of Subramaniam, who is currently serving as Chief Investment Officer (CIO). He will take on the responsibilities of MD & CEO Designate immediately, facilitating a seamless transition in the upcoming months.
Subramaniam began his tenure at UTI AMC as Head of Equity in January 2017 and was promoted to CIO in August 2021. Since April 2024, he has also chaired the UTI Management Committee, which supervises the company's subsidiaries.
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With over thirty years of experience in equity markets, investment strategy, mentorship, and advocacy for financial literacy, Subramaniam brings substantial expertise to this position. Prior to his time at UTI AMC, he was the CIO at Invesco Asset Management, where he was a member of the founding team (then known as Religare Asset Management) in 2008. He was instrumental in developing the firm's proprietary investment process and team.
Subramaniam commenced his professional journey at Kotak Mahindra in 1992 after graduating from IIM Bangalore with a Diploma in Management. His career encompasses roles at SSKI, Motilal Oswal, and Sharekhan.com (currently known as Mirae Asset Sharekhan), where he was a founding member and directed the research and content team. From 2003 to 2007, he also acted as an advisor to a UK-based hedge fund regarding Indian equity investments.
UTI AMC indicated that the change in leadership highlights the board's dedication to strategic continuity, the development of internal talent, and the long-term stability of the organization.
D.K. Mehrotra, chairman of the board, said, "Rahman, a UTI veteran since 1998, has been leading the company since 2018 and successfully led the firm's transition to a listed entity. He oversaw UTI's rapid growth and expansion since then. Rahman will continue to serve as a Strategic Advisor to MD and CEO from 1st February 2026 to 12th June 2026, thereby ensuring a seamless succession."
UTI Asset Management Company (UTI AMC) serves as the Investment Manager for UTI Mutual Fund. It was established under the Companies Act of 1956 and received approval from SEBI on January 14, 2003, to function as an Asset Management Company for UTI Mutual Fund. UTI AMC is registered as a Portfolio Manager with SEBI and, through its subsidiary, operates as a Fund Manager for AIF, among other roles. Additionally, it boasts a nationwide network of branches along with a varied distribution network.
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On a standalone basis, the company reported a 16.3 percent year-on-year increase in net profit, amounting to Rs 216.13 crore, alongside a 12.4 percent rise in net sales to Rs 438.31 crore in Q1 FY26 compared to Q1 FY25.