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Federal Bank shortlists three candidates for CEO position; includes Kotak Mahindra Bank’s Manian KVS
In January, RBI had turned down the proposal from Federal Bank that sought an extension of Shyam Srinivasan, its MD and CEO for one year.
KVS Manian had been with the lender for almost 30 years.
Federal Bank has shortlisted Manian KVS, whole time director - corporate, institutional & investment banking & wealth management at Kotak Mahindra Bank for the role of chief marketing officer.
The bank also shortlisted two internal candidates for the position of managing director and CEO.
Federal Bank will proceed to submit the names of the three candidates to the Reserve Bank of India (RBI) for approval, as reported by CNBC-TV18.
In January, RBI had turned down the proposal from Federal Bank that sought an extension of Shyam Srinivasan, its MD and CEO for one year. According to the norms put down by RBI, a CEO is allowed to continue functioning in a bank for 15 years, in case the person is not the promoter. Srinivasan’s term will expire on September 22, 2024.
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