The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ashwani Kumar, Executive Director, Indian Bank as Managing Director and CEO of UCO Bank. Kumar will head the public sector bank for a period of three years. His appointment has come into effect from June 1.
Kumar succeeded Soma Sankara Prasad as the MD and CEO of the bank after Prasad’s superannuation from his job on May 31. Prasad was heading the bank since December 2021.
Based on his performance, Kumar may get an extension of his term of office. This extension will be for two years or until further orders, whichever is earlier, according to an order issued by the Department of Personnel and Training.
Before getting appointed to the UCO Bank MD and CEO, Kumar was the executive director at the Indian Bank. He was responsible for heading compliance , credit, HR, risk, recovery, credit monitoring , inspection & audit, among others.
He is skilled in human resources (HR), HR transformation, business transformation, risk management,· change management, and strategic planning.