KVS Manian, joint MD of Kotak Mahindra has stepped down from his post with immediate effect, the bank informed the exchanges.

Previously, a whole-time director & member of the Group Management Council at Kotak Mahindra Bank Ltd. (Kotak), Manian was elevated as joint MD in March this year.

He was instrumental in setting up and metamorphosing many business divisions into success stories in his more than two-and-a-half-decade association with the bank. He has played a pivotal role in Kotak's journey from an NBFC to a bank.

“KVS Manian, Whole-Time Director designated as Joint MD, has stepped down from his position to pursue other opportunities in the financial services sector,” the bank said in a release. His resignation has been accepted by the board.