Kotak Mahindra Bank Unveils Key Leadership Changes
Kotak Mahindra Bank (KMBL), on Monday, unveiled key changes at the leadership levels to give impetus to its vision for ‘accelerating change’ in becoming a customer-centric and tech-enabled financial institution.
KVS Manian will assume the role of Joint Managing Director, effective from 1 March 2024. Shanti Ekambaram has been appointed Deputy Managing Director, also effective from 1 March 2024. She will continue to spearhead the growth of the 811, Treasury, and Global Markets businesses, in addition to other responsibilities.
Ashok Vaswani, managing director (MD) and chief executive officer (CEO), Kotak Mahindra Bank said, “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.”
Manian 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 Managing Director with effect from 1 March 2024. She will continue to drive the growth of 811, treasury and global markets businesses in addition to overseeing the functions of human resources, group marketing and 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 and Kotak Karma subsidiaries.
Devang Gheewalla will succeed Jaimin Bhatt as the Group's Chief Financial Officer with effect from 1 April 2024. Jaimin Bhatt, Kotak Group’s current Group Chief Financial Officer superannuates on 31 March 2024.
Milind Nagnur has been elevated to Chief Operating Officer of the bank with effect from 1 April 2024. He will continue to be the Bank’s Chief Technology Officer and will take additional responsibility for bank operations, group technology architecture and cyber security functions. In his new role, he will be responsible for building the critical enablers that will fuel KMBL’s aspirations for scale.
Paul Parambi has been elevated as Group Chief Risk Officer with effect from 1 March 2024, thereby extending his role from the bank to all group companies. In his new role, Paul will be extending his expertise in assessing risk to bank’s group companies.
Manian, Whole Time Director, Kotak Mahindra Bank said, “We are embarking on an exciting journey of growth and innovation, and I am honoured to step into this new role as Joint Managing Director. I am committed to working closely with my esteemed colleagues to drive our group forward, delivering value to our customers and stakeholders while upholding our core values of ethics and integrity.”
