Money & Banking

Bank of Baroda stares at vacant leadership as PS Jayakumar’s MD/CEO term comes to an end

Our Bureau Mumbai | Updated on October 13, 2019 Published on October 13, 2019

PS Jayakumar, MD and CEO, Bank of Baroda   -  File photo

BoB is the second largest public sector bank which does not have a CEO

The one-year extended tenure of PS Jayakumar as Managing Director and Chief Executive Officer (MD & CEO) of Bank of Baroda (BoB) ended on Saturday, with the government not giving any clarity on either giving him extension or finding a replacement.

BoB is the second largest public sector bank (PSB) which is headless. Bank of India (BoI) has been without an MD/CEO after Dinabandhu Mohapatra demitted office on June 30.

Jayakumar was initially appointed by the government as BoB chief on August 14, 2015 for a three-year tenure. In view of the key role he played in the amalgamation of Dena Bank and Vijaya Bank with BoB, which became effective from April 1, 2018, the government granted him a year’s extension.

With the government moving Ch SS Mallikarjuna Rao, MD & CEO of Allahabad Bank, to head Punjab National Bank, it now needs to appoint chiefs at BoB and BoI.

The government has kept the top position at Allahabad Bank vacant as it is set to be amalgamated with Indian Bank.

Canara Bank MD & CEO RA Sankara Narayanan’s tenure ends on January 31, 2020. He took charge on April 15, 2019. Prior to this, he was MD & CEO of Vijaya Bank from September 1, 2017.

The government could consider giving Sankara Narayanan an extension, given that Canara Bank and Syndicate Bank are in the midst of an amalgamation.

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Published on October 13, 2019
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