KVS Manian resigned as the Joint Managing Director of Kotak Mahindra Bank, effective immediately. He had been re-designated to this position on March 1, 2024. In his resignation letter, Manian cited his decision to pursue other opportunities in the financial services sector. He expressed gratitude for his time with Kotak Mahindra Bank and highlighted his contributions to the group s success, particularly in expanding its retail banking division. Manian, an electrical engineer from IIT BHU Varanasi, joined the bank in 1995 and played a crucial role in its transformation from an NBFC to a full-fledged bank.
.please note that Mr. Krishnan Venkat Subramanian, ceases to be the Whole-time Director designated Joint Managing Director, with immediate effect, Kotak said in a regulatory filing.
On Monday, the bank announced the appointment of KVS Manian as joint managing director and Shanti Ekambaram as deputy managing director with effect from March 1, 2024. Both were seen as internal candidates for the CEO position.
Kotak Mahindra Bank has announced changes in its senior management. KVS Manian has been appointed as the new Joint MD starting from March 1, 2024. Manian, who was a whole-time Director and a key managerial personnel of the bank, will now take on this new role. Shanti Ekambaram, currently a whole-time Director, will also assume the position of Deputy MD from March 1, 2024.
Milind Nagnur will be elevated to chief operating officer starting April 1, 2024. He will continue to be the bank s chief technology officer and take additional responsibility for bank operations, group technology architecture and cyber security functions. "In his new role, he will be responsible for building the critical enablers that will fuel our aspirations for scale," the bank said.