Kotak Mahindra Bank announced that RBI has approved the appointment of Ashok Vaswani as the Bank’s next Managing Director & Chief Executive Officer (MD & CEO).
This is for a period of three years from the date of taking charge which shall not be later than January 1, 2024. The appointment is subject to shareholders’ approval.
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He brings significant exceptional experience with high compliance and industrial strength across Corporate and Consumer businesses.
Prakash Apte, Chairman of Kotak Mahindra Bank said, “We are pleased to announce that RBI has approved the appointment of Ashok Vaswani as the next MD & CEO of Kotak Mahindra Bank.
“Ashok is a global banking leader with a proven track record of building and growing businesses at an international scale and has successfully steered organisations to greater heights. We are confident that Ashok will accelerate change and drive growth at Kotak”, Prakash Apte added.
Uday Kotak, Founder and Director, Kotak Mahindra Bank said “I am delighted that the RBI has approved our recommendation, Ashok Vaswani, as the next MD & CEO of Kotak Mahindra Bank. Ashok is a world-class leader and banker with a digital and customer focus.”
Ashok has a proven track record spanning three and a half decades. He was Chief Executive Officer of Barclays Bank, UK and subsequently CEO of their Global Consumer, Private, Corporate and Payments businesses and Member of the Group Executive Committee.
Earlier, Ashok was CEO Citigroup Asia Pacific and Member of the Citigroup Global Operating & Management Committees.
He also built and ran various country and regional businesses across geographies. Currently, he is President of Pagaya Technologies Ltd – a US-Israeli AI Fintech.
Ashok is a Bachelor of Commerce, Economics and Accountancy, from the Sydenham College of Commerce and Economics (Bombay University), CA from the Institute of Chartered Accountants of India, CS from the Institute of Company Secretaries of India and Executive Education from the Stanford University Graduate School of Business.
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