Leadership rejigs at Kotak Mahindra Bank under new CEO and MD
Kotak Mahindra Bank has announced leadership changes within the senior executive team, including the resignation of KVS Manian as Joint Managing Director and Shanti Ekambaram as Deputy Managing Director, effective from March 1, 2024. Both KVS and Shanti currently serve as whole-time directors for the bank.
These changes follow the appointment of Ashok Vaswani as Managing Director and Chief Executive Officer in January 2024. Additionally, the bank has appointed Milind Nagnur as Chief Operating Officer, Devang Gheewalla as President and Group Chief Financial Officer, and Paul Parambi as Group Chief Risk Officer.
Devang will assume responsibilities from Jaimin Bhatt, who retires on March 31, 2024, after over 28 years of service. Nagnur, who also serves as Chief Technology Officer, will retain his role alongside his new responsibilities.
CEO and MD Ashok, stated, “I am delighted to share key leadership announcements that will shape the future of our group. These changes demonstrate the value of stewardship and the depth of talent we have at Kotak.”
Welcoming KVS to his new role, Ashok noted, “Manian will also continue to oversee the institutional equities and investment banking businesses of the group.”
KVS added, “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.”
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Taking on her new responsibilities, Shanti will continue to drive growth in treasury and global markets, as well as oversee HR, group marketing, corporate communications, public affairs, CSR, and ESG. She will also oversee operations at Kotak Mahindra Financial Services and Kotak Karma subsidiaries.
Shanti commented, “As we embark on the next phase of scaling up Kotak, I look forward to contributing to the continued success and growth of our group. I am committed to collaborating closely with the team to drive strategic initiatives, foster innovation, and uphold our commitment to excellence.”
