UTI MF seeks fresh applications for new CMD

The ideal candidate should be seasoned financial services professional with a minimum 20 years experience and an excellent understanding of the Indian financial markets. The last date for sending application for the post is June 20,the firm has said.

The position fell vacant after UK Sinha was appointed the Chairman of Sebi in February last year. The process of finding replacement started soon after Sinhas resignation last year.

But it was mired in controversy following objection raised by US-based T Rowe Price,which owns 26 per cent stake in the fund house. T Rowe Price,UTIs single largest shareholder,had protested against the alleged attempts to influence the selection process by the Finance Ministry.

Global executive headhunting firm Egon Zehnder was engaged in February,2011 to conduct an open search and provide a list of suitable candidates to the HR committee of the UTI Board. This time also Egon Zehnder has been appointed as consultant for the appointment of CMD.