ING Vysya MD Shailendra Bhandari quits

Private sector lender ING Vysya Bank today said Shailendra Bhandari, its managing director and chief executive of five years, has decided to step down to pursue "new challenges". The board of the bank has announced Uday Sareen, currently serving as the deputy chief executive and wholesale bank head, as the successor, the bank said in a statement. Bhandari will, however, will continue to serve the bank till January 31, 2015. "I just felt that I needed to do something different with the skills and talents I've developed," Bhandari is quoted as saying in the statement.

Read the Economic Times news report here.