A number of executive directors (EDs) of the public sector banks are likely to be elevated to the post of the chairman and managing directors of a few medium sized state-run banks whose heads are on the verge of retirement or are being shifted to large state owned banks .
AC Mahajan, CMD of Allahabad Bank is likely to become the CMD of the Canara Bank as the current CMD of the bank, MBN Rao would retire within a couple of months. The ED of Union Bank of India, RS Reddy is likely to take over as the CMD of Allahabad Bank and ED of Bank of India, KR Kamath is likely to become the CMD of Bangalore-based Syndicate Bank.
Similarly, Allen CA Pareira, ED of Oriental Bank of Commerce, will take over as the CMD of Pune-based Bank of Maharashtra soon.
