Private sector lender Kotak Mahindra Bank recently unveiled significant leadership alterations, signaling a strategic shift within the organization.
KVS Manian Redesignated as Joint Managing Director
- In a move effective from 1st March, Kotak Mahindra Bank has re-designated KVS Manian, a seasoned professional with nearly three decades of experience within the institution, as the joint managing director.
- Manian, an alumnus of the prestigious Indian Institutes of Technology (BHU) – Varanasi, brings a wealth of expertise, having obtained degrees in electrical engineering and financial management from renowned institutes.
Shanti Ekambaram Appointed Deputy Managing Director
- Joining Manian in a pivotal leadership role is Shanti Ekambaram, who has served Kotak Mahindra Bank for over 30 years.
- With a background in commerce and qualifications as a chartered accountant and Cost and Works Accountant, Ekambaram’s appointment as deputy managing director further strengthens the bank’s leadership team.
Devang Gheewalla Named Chief Financial Officer
- Effective April, Devang Gheewalla will assume the role of chief financial officer, succeeding Jaimin Bhatt.
- With this appointment, Gheewalla will also be designated as the president and group chief financial officer, bringing his extensive financial expertise to the forefront of Kotak Mahindra Bank’s operations.
Milind Nagnur to Serve as Chief Operating Officer
- In a strategic move aimed at bolstering operational efficiency, Milind Nagnur, the current chief technology officer, will take on the additional responsibility of chief operating officer from April.
- Nagnur’s dual role underscores the bank’s commitment to leveraging technology and enhancing cybersecurity measures.
Paul Parambi Appointed as Group Chief Risk Officer
- Recognizing the critical importance of risk management, Kotak Mahindra Bank has appointed Paul Parambi as the group chief risk officer, effective from March.
- Parambi, who previously served as the chief risk officer, will play a pivotal role in strengthening the bank’s risk management framework.
Continuity and Growth under New CEO Ashok Vaswani
- The leadership restructuring follows the appointment of Ashok Vaswani as the new chief executive officer, succeeding founder Uday Kotak.
- Vaswani, a former Barclays veteran, commenced his tenure on 1st January, with the Reserve Bank of India granting approval for a three-year term. His leadership sets the stage for continued growth and innovation at Kotak Mahindra Bank.