"Manian wanted to pursue other opportunities in the financial sector. the timing made things a little difficult. He was with the company for a very long time," Ashok Vaswani, MD and CEO of Kotak Mahindra Bank said.
Federal Bank declined to comment on reports of KVS Manian as MD & CEO candidate, emphasizing their search for the best candidate, internal or external. Manian, a former Kotak Mahindra Bank executive, is speculated for the role. Federal Bank reported Q4FY24 earnings, with a net profit of Rs 906 crore
Manian s departure has left banking industry executives in shock, especially as the newly elevated joint managing director, who once was in consideration for the top job, had been willing to serve a notice period
Earlier, some media reports said that KVS Manian, who recently resigned as the Joint MD and from the Kotak Mahindra Bank s Board, may join Federal Bank as its MD & CEO