The Reserve Bank of India (RBI) is likely to clear the name of Shyam Srinivasan as the new chief executive officer & MD of private sector Federal Bank. Srinivasan is currently working as the country manager for consumer business at Standard Chartered Bank.
Earlier, Federal Bank had submitted three names to RBI for its CEO. However, Federal Bank sources said that RBI was yet to clear any name.
?Nothing has finalised yet. Three names have been empaneled for the post of CEO by the bank’s board. Srinivasan is one of the those three. The board sent the list to RBI last week. Though the bank might be prefering Srinivasan, but ultimately it is RBI’s prerogative to take a call on that,? said a person familiar with the development.
Federal bank will have a vacancy for its CEO position by the end of July as its present MD & CEO M Venugopalan will retire on July 31.
Meanwhile, MS Sundarrajan, former CMD of Indian Bank, has joined the board of Axis Bank.
HSBC India has also announced the appointment of Gannesh Bharadhwaj as the head of personal financial services at HSBC India.
Bharadhwaj has taken over from Rajnish Bahl, a banker with over 22 years of experience in retail banking in India. Rajnish has moved over to a regional role as the regional head of distribution for Middle East and North Africa.
Bharadhwaj will be responsible for HSBC?s Premier and Advance propositions, wealth management, liabilities, consumer assets and NRI businesses and the distribution network.
Prior to his appointment as the head of personal financial services of HSBC in India, Bharadhwaj was driving Asia Pacific’s consumer assets business which was focused on cards, mortgages and loans from Hong Kong. He joined the HSBC Group in 2002 and within the group, has experience across cards and consumer assets.