The current MD and CEO of Axis Bank, Shikha Sharma’s tenure will end this December. In order to get a successor of Sharma, the Axis Bank Panel is understood to be considering P S Jayakumar, MD and CEO of Bank of Baroda for the role.
Sharma’s third three-year term was coming to a close on June 30, 2018, and the board had approved another three-year extension last year.
Jayakumar, a former Citibanker, is the first lateral recruit into the top position at a public-sector bank (PSB) and whose term comes to an end this year.
Once the panel selects the candidates, the board will interview all the finalized candidates. This process will be completed within few weeks after the shortlisting. After the board finalizes the new CEO, the appointment has to be approved by the shareholders and the Reserve Bank of India under its mandated guidelines.
Prior to his appointment as MD & CEO of Bank of Baroda, he was the Co-founder and CEO of VBHC Value Budget Housing (VBHC), a leader in the housing for low and moderate income household from 2009 onwards. He was also the Co-founder and Non-Executive Promoter Director for Home First Finance Company, a housing finance institution regulated by the NHB, focused on financing customers who are not able to access mortgage loans from the banking sector.
Jayakumar has held diverse assignments while at Citibank such as Treasurer - Consumer Bank, Business Development Head covering deposit and lending business, Managing Director for Citifinancial Ltd, Managing Director and Head of Citibank Consumer Loan for Asia Pacific Countries (covering Indonesia, Philippines, Australia, Thailand, Hong Kong and Korea), Country Head - Citibank Consumer Business and Head of Balance Sheet Management - Asia Pacific. Mr. P. S. Jayakumar has also served as a Board Member in many of Citibank’s subsidiaries in India.
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