The Hindu Business Line : Centurion Bank appoints Shailendra Bhandari as CEO

CENTURION Bank on Tuesday announced the appointment of Mr Shailendra Bhandari as the CEO, following the Reserve Bank of India approval. Mr Bhandari, earlier CEO of Prudential-ICICI AMC Ltd, is expected to join the bank by the end of January.

This is the first top deck appointment in the bank following Sabre Capital's takeover of management control in April 2003. Mr Janakiraman, CMD of the bank is due to retire this month.

Mr Bhandari has had over 21 years of experience in the banking and finance industry, said a press release from Centurion Bank.

Mr Bhandari has been the MD of Prudential-ICICI, the largest private sector mutual fund since December 2000. Prior to that, Mr. Bhandari was the Treasurer and Executive Director of HDFC Bank Ltd. Prior to which he had worked with Citibank for 13 years.

The Oman-based BankMuscat, Rana Talwar-headed, Sabre Capital Worldwide Inc and Keppel Corporation of Singapore signed the shareholder agreement of the NPA-ridden, Centurion Bank in early December. While the private sector bank is being merged with BankMuscat, it is also scheduled to have a capital infusion of Rs 219 crore in two phases.

The shareholding pattern of Centurion Bank following the capital infusion and the rights issue is to be as follows: BankMuscat 26 per cent, Keppel 11 per cent, public 28 per cent, FIIs 18 per cent, Sabre Capital 7 per cent, Asian Development Bank & IFC 4 per cent, trust holding former promoter's stake 6 per cent.

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Centurion Bank appoints Shailendra Bhandari as CEO