Punjab News Network

Kotak Mahindra Bank names a joint MD and rejigs management

<p>CHENNAI: Chief Finance Officer and Chief Operations Officer appointments, as well as an expansion of staff duties to include the whole bank, were among the noteworthy senior management moves announced by Kotak Mahindra Bank on Monday.</p>
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<p>KVS Manian, a full-time director of the firm, has been named a joint managing director effective March 1, 2024. According to a statement from the bank, he would concentrate on Wholesale Bank, Commercial Bank, Private Banking, Asset Reconstruction Division, and Wholesale Credit. He will still be in charge of the Group’s Investment Banking and Institutional Equities divisions.</p>
<p>Commencing on March 1, Shanti Ekambaram has been designated as the Deputy Managing Director. Her main priorities will be the expansion of the 811, Treasury, and Global Markets businesses. She will also be in charge of the administrative tasks related to Internal Audit, Group Marketing, Corporate Communications, Public Affairs, Corporate Social Responsibility, and ESG, as well as Internal Vigilance and Internal Vigilance. Additionally, she will still be in charge of the subsidiaries of Kotak Mahindra Financial Services Limited and Kotak Karma.</p>
<p>Over their lengthy affiliation with the Group, Manian and Shanti have both shown to have an exceptional track record of creating profitable and meaningful enterprises, according to Kotak. With effect from April 1, Devang Gheewalla will take over as Group Chief Financial Officer from Jaimin Bhatt. By the end of the next month, Jaimin Bhatt, the Group Chief Financial Officer of Kotak Group, would be superannuated.</p>
<p>Milind Nagnur has been promoted as Chief Operating Officer of the bank by the corporation. In addition to his role as Chief Technology Officer, he will also be accountable for Group Technology Architecture, Cyber Security, and Bank Operations.</p>
<p>According to the bank, he will be in charge of creating the vital enablers that will support our ambitions for growth in his new position.</p>