An Indian banking and financial services company, Kotak Mahindra Bank has informed the exchanges that KVS Manian, Whole Time Director designated as Joint Managing Director has stepped down from his position to pursue other opportunities in the Financial Services sector.
The Board has accepted his resignation with immediate effect. Leveraging its strong leadership strength, the Bank announced a new reporting structure to drive a sharper focus and leadership oversight to its business.
The Wholesale, Commercial, and Private Bank will now report directly to Ashok Vaswani, Managing Director & CEO, while the Asset Reconstruction Division will report into Shanti Ekambaram, Deputy Managing Director. Shanti will also oversee the Investment Banking and Institutional Equities businesses.
Commenting on the development, Ashok Vaswani, MD & CEO, of Kotak Mahindra Bank said “Manian has spent over 29 years at Kotak and we are thankful to him for his association and we wish him well in his future endeavours.”
“We are confident of the strong leadership talent at Kotak and our ability to scale our businesses to the next level in times to come”, Ashok added.
In February 2024, Kotak Mahindra Bank has appointed Devang Gheewalla as Chief Financial Officer, effective April 1, 2024. Devang Gheewalla took over from Jaimin Bhatt, who is set to retire on March 31, 2024.
In January, the Bank appointed Anupam Kaura as Chief Human Resources Officer (CHRO). In his role, he will be responsible for the entire HR process of Kotak Mahindra Bank and additionally, he will be spearheading organizational transformation.
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