Last month, Vysya Bank had announced a split in the role of its chairman and managing director K R Ramamoorthy and appointed the new managing director, who would look after the bank's day-to-day operations. Vysya Bank named Mr Raghunathan its president yesterday.

Speaking to The Financial Express after taking over the new assignment, Mr Raghunathan said, "The bank will focus on strategic business units (SBUs) with each one concentrating on specific areas like marketing of insurance products, technology and service." He added that another priority area would be building the bank's brand identity, as also bringing about change in management in various spheres. The latter would include training the staff towards service and marketing orientation.

In his new capacity, Mr Raghunathan would initially oversee corporate and institutional banking, human resource devlopment and integrated risk management and operations. He revealed that Vysya Bank would invest Rs 70-80 crore into technology upgradation.

"In the first phase, around 150 branches and 70 extension counters (of the total of 480) will be networked for integrated banking by November 2001," Mr Raghunathan said. Thereafter, during the next 3-4 years, the rest of the branches would also be integrated in phases. He said the bank's employees, irrespective of their age, were assets. "I look at age as rich experience. Also, continuity of employees is important," Mr Raghunathan said.

Prior to joining the bank, Mr Raghunathan was professor of finance and accounting at the Indian Institute of Management, Ahmedabad and was chairperson, of the post graduate programme at the same institute. He has also been advisor to the Securities and Exchange Board of India, National Stock Exchange, Bombay Stock Exchange and the Ministry of Finance.