Kotak Mahindra Bank on Saturday announced leadership transition, including the decision of Shanti Ekambaram to retire from her role as a Director and Deputy Managing Director on the Bank’s Board, effective upon the completion of her current term on October 31, 2025.
The Bank’s Board, at its meeting on Saturday, accepted the request of Ekambaram, who has been with the Kotak Group since 1991 and played a pivotal role in shaping the Group’s growth and evolution, to retire for the services of the Bank.
Further, the Board also approved the appointment of Paritosh Kashyap, Group President and Business Head –Wholesale Banking Group, as an Additional Director and a Whole-time Director (to be designated as Whole-time Director (Executive Director) and a Key Managerial Personnel of the Bank, for a period of three years.
Kashyap’s appointment is with effect from the date of receipt of all the regulatory and statutory approvals. He has been with the Kotak Group for over three decades.
Letter to the Board
In her letter to the Board, Ekambaram said: “As I approach the close of this chapter, I remain committed to supporting a seamless transition and to extending my full co-operation to the Board and the leadership team during this period. “
According to banking industry grapevine, Ekambaram may have offers to head either YES Bank or IndusInd Bank. Both these private sector banks are looking for a CEO.
Ashok Vaswani, MD & CEO, Kotak Mahindra Bank, said, “Shanti has been a cornerstone of Kotak’s journey. Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions and an unwavering commitment to excellence.
“Paritosh brings deep institutional knowledge, strategic foresight, and a strong customer-first mindset. I look forward to working closely with him as we continue to build the Kotak of tomorrow.”
About a year back, Kotak Mahindra Bank’s Whole-time Director and Joint Managing Director KVS Manian had resigned from the services of Bank after serving it for almost three decades. Manian took charge as the MD & CEO of Federal Bank in September 2024.
According to banking industry grapevine, Ekambaram may have offers to head either YES Bank or IndusInd Bank. Both these private sector banks are looking for a CEO.