Federal Bank shortlists three candidates for CEO position; includes Kotak Mahindra Bank’s Manian KVS

In January, RBI had turned down the proposal from Federal Bank that sought an extension of Shyam Srinivasan, its MD and CEO for one year.

By
Storyboard18,

| February 16, 2024 , 8:22 am

KVS Manian, whole-time director, Kotak Mahindra Bank said, “We are embarking on an exciting journey of growth and innovation, and I am honoured to step into this new role as Joint Managing Director. I am committed to working closely with my esteemed colleagues to drive our group forward, delivering value to our customers and stakeholders while upholding our core values of ethics and integrity."

Federal Bank has shortlisted Manian KVS, whole time director – corporate, institutional & investment banking & wealth management at Kotak Mahindra Bank for the role of chief marketing officer.

The bank also shortlisted two internal candidates for the position of managing director and CEO.

Federal Bank will proceed to submit the names of the three candidates to the Reserve Bank of India (RBI) for approval, as reported by CNBC-TV18.

In January, RBI had turned down the proposal from Federal Bank that sought an extension of Shyam Srinivasan, its MD and CEO for one year. According to the norms put down by RBI, a CEO is allowed to continue functioning in a bank for 15 years, in case the person is not the promoter. Srinivasan’s term will expire on September 22, 2024.

Leave a comment Cancel reply