Federal Bank on Monday announced that KVS Manian has been appointed as the new Managing Director & CEO of the bank, with effect from 23rd September 2024, succeeding Shyam Srinivasan.
KVS Manian brings with him a wealth of experience and a proven track record of success in the banking industry, it said. Earlier in April, KVS Manian had resigned from the post of joint managing director of Kotak Mahindra Bank, ending his three-decade long association with the private bank. During his tenure at Kotak, he played a pivotal role in the bank’s transformation from a Non-Banking Financial Company (NBFC) to one of the country’s leading private sector banks.
In his previous role, KVS Manian spearheaded the Corporate, Institutional, and Investment Banking sectors, along with Wealth Management. “Under his guidance, these businesses achieved a high-quality, integrated, and profitable franchise. The Corporate Bank saw significant growth in both size and profitability while maintaining best-in-class asset quality. The Investment Banking, Institutional Equities, and Wealth Management businesses also retained their leadership positions under his stewardship,” Federal Bank said in a statement.
KVS Manian is an electrical engineer from IIT (BHU) – Varanasi, holds a Postgraduate degree in Financial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai, and is a qualified Cost and Works Accountant.
“Federal Bank is confident that Mr. Manian’s extensive experience and visionary leadership will drive the Bank to new heights of success. We warmly welcome him to the Federal Bank family and look forward to a prosperous future under his guidance,” it said.
The appointment was approved by the Reserve Bank of India in July, for a period of three years. The appointment will be effective from September 23, 2024, after the term of the current Managing Director and Chief Executive Officer, Shyam Srinivasan, expires on September 22, 2024, Federal Bank had informed in an exchange filing.