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IDBI Bank's Board of Directors has approved the appointment of Samuel Joseph Jebaraj as Deputy Managing Director (DMD) for a period of 3 years with effect from September 19, 2019. The decision has been taken as per the approval received by the Reserve Bank of India (RBI).
This is the first major appointment on the Bank’s Board, in which the Life Insurance Corportion of India (LIC) acquired a majority stake of 51 per cent in January 2019. The DMD position became vacant after KP Nair superannuated in May 2019.
Samuel Joseph joined the Export-Import Bank of India (Exim Bank) in 1998. At present, he heads the Loan Administration and Human Resources Management Groups of the Bank as Chief General Manager. Prior to this assignment, he headed the Corporate Banking, SME, Treasury, Accounts & Information Technology Groups at the Head Office of the Bank.
He has served in the Bengaluru, Hyderabad, Milan and London Offices of Exim Bank in various capacities.
Meanwhile, the Bank, on behalf of LIC, has invited applications from Indian nationals with an exemplary track record for one post of DMD. IDBI Bank has two DMDs on its Board.
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