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Kotak Mahindra Bank has elevated whole-time directors KVS Manian and Shanti Ekambram as part of a leadership rejig at the private sector lender, effective March 1, 2024.
Manian has been appointed as Joint MD. He will spearhead the growth of Wholesale Bank, Commercial Bank, Private Banking, Asset Reconstruction Division, and Wholesale Credit. He will also continue to have oversight over the institutional equities and investment banking businesses of the Group.
Ekambaram has been appointed as Deputy MD and will continue to drive the growth of 811, Treasury, and Global Markets businesses, in addition to overseeing the functions of Human Resources, Group Marketing & Corporate Communications, Internal Vigilance, Internal Audit (administrative matters), Public Affairs, Corporate Social Responsibility, and ESG. She will also continue to have oversight over Kotak Mahindra Financial Services Ltd and Kotak Karma subsidiaries.
Further, Devang Gheewalla will take over as Group Chief Financial Officer after Jaimin Bhatt finishes his term on March 31, 2024.
The leadership changes come after the former MD and CEO, Uday Kotak, stepped down from the helm of the bank in September 2023.
After this, interim MD Dipak Gupta, formerly Deputy MD under Uday Kotak, led the bank until the end of his term on December 31.
The current MD and CEO, Ashok Vaswani, took charge with effect from January 1, 2024.
“I am delighted to share key leadership announcements that will shape the future of our group. These leadership changes demonstrate the value of stewardship and the depth of talent we have at Kotak,” Vaswani said.
Kotak Bank has also elevated Milind Nagnur as Chief Operating Officer, with effect from April 1. He will continue to be the Chief Technology Officer and will take additional responsibility for bank operations, group technology architecture, and cyber security functions. Paul Parambi has been elevated to Group Chief Risk Officer effective March 1, thereby extending his role from the bank to assessing risk for all Group companies.
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