On Saturday, Kotak Mahindra Bank issued a statement confirming that the Reserve Bank of India (RBI) has authorized the appointment of Ashok Vaswani as the bank's incoming Managing Director and Chief Executive Officer (MD & CEO).
This appointment follows the departure of Uday Kotak, a seasoned banker and co-founder, who resigned from his role last month.
Vaswani's tenure as MD & CEO will extend for three years from the date of his official assumption of duties, with this commencement scheduled no later than January 1, 2024. It's crucial to emphasize that the approval of the bank's shareholders is a prerequisite for this appointment, as stipulated by the private lender.
Vaswani is a notable personality in the banking industry, characterized by a distinguished career marked by a wealth of leadership roles.
Having accumulated more than thirty years of experience in the banking sector, he is widely recognized as a seasoned expert in this realm. His professional trajectory includes holding leadership positions at both Citigroup and Barclays. Of particular note is his role as the Chief Executive Officer of Barclays Bank in the UK, followed by his oversight of their global consumer, private, corporate, and payments divisions.
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