Private sector lender Kotak Mahindra Bank announced major changes in its senior management team. Kotak Mahindra Bank has re-designated KVS Manian who is currently a whole-time director and a key managerial personnel, as the Joint Managing Director and a key managerial personnel of the bank, with effect from March 1, 2024. He will replace ex-Joint Managing Director Dipak Gupta, and Shanti Ekambaram as Deputy Managing Director from March 1. KVS Manian is an electrical engineer from Indian Institute of Technology ( BHU) – Varanasi, Post Graduate in Financial Management from Jamnalal Bajaj Institute of Management Studies Mumbai and a Cost and Works Accountant and has been with Kotak Group since 1995. He has played a pivotal role in Kotak’s journey from an NBFC to a Bank, the bank said in a statement.
The bank also resdignated Shanti Ekambaram, currently a whole-time director and a key managerial personnel of the bank, as the Deputy Managing Director, with effect from March 1, 2024.
Kotak Mahindra Bank further announced the appointment of Devang Gheewalla as the Chief Financial Officer and a Key Managerial Personnel of the bank, designated as President and Group Chief Financial Officer, with effect from April 1, 2024 consequent upon the superannuation of Jaimin Bhatt, currently Group President and Group Chief Financial Officer, on March 31, 2024.
The private lender also announced the appointment of Milind Nagnur, currently the Chief Technology Officer, as the Chief Operating Officer of the bank, with effect from April 1, 2024. It stated that Milind Nagnur shall continue to be the bank’s Chief Technology Officer and will also be responsible for Operations of the Bank as also the Group Technology Architecture and Cyber Security.
Further, Paul Parambi, currently the Chief Risk Officer of the bank, was appointed as the Group Chief Risk Officer of the Bank, with effect from March 1, 2024.