Board Of Directors Of Kotak Mahindra Bank Appoint Ashok Vaswani As MD and CEO

The board of Kotak Mahindra Bank has appointed Ashok Vaswani as a Director, Managing Director and the CEO of the bank. The Reserve Bank of India (RBI), last month had given approval for the appointment of Vaswani as the bank's MD & CEO for a period of three years.

The board of directors in a meeting on Friday appointed Vaswani as a Director and Managing Director and CEO and a key managerial personnel of the bank, for a tenure of three years, which will come into effect from 1 January 2024, Kotak Mahindra Bank stated in a regulatory filing.

This is subject to the approval by the members of the organisation, the Bank said.

It may be recalled that Uday Kotak had quit as the MD of the bank from 1 September and now Vaswani, who has worked with Barclays in the recent past, is going to succeed him.

At present, Vaswani is the President of Pagaya Technologies which is a US-Israeli AI Fintech player.

He is also on the board of SP Jain, the London Stock Exchange Group, Institute of Global Management, UK. He also supports various philanthropic organisations including Pratham and Lend a Hand.

Vaswani has a banking experience across various departments spanning three-and-a-half decades. Vaswani was Initially at Citigroup and more recently at Barclays building.