Manian, Ekambaram get top roles at Kotak Mahindra in leadership rejig

Kotak Mahindra Bank on Monday announced some key changes in the top leadership team, naming K.V.S. Manian as joint managing director and Shanti Ekambaram as deputy managing director. 

Both Manian and Ekambaram are currently whole-time directors at the bank. Their new positions will come into effect on 1 March, the bank said in a regulatory filing.

Announcing his new team, Kotak Mahindra Bank managing director and chief executive officer (MD & CEO) Ashok Vaswani, said, “I am delighted to share key leadership announcements that will shape the future of our group. These leadership changes demonstrate the value of stewardship and the depth of talent we have at Kotak.”

Vaswanitook charges as MD & CEO on 1 January this year. 

Manian, who has been with Kotak Group since 1995, was appointed as whole-time director of the bank in 2019.  An electrical engineer from the Indian Institute of Technology (BHU), Varanasi, with a post-graduate in financial management from Jamnalal Bajaj Institute of Management Studies, Mumbai, Manian has played a pivotal role in Kotak’s journey from an NBFC to a bank, the company said. 

“We are embarking on an exciting journey of growth and innovation, and I am honored to step into this new role as Joint Managing Director. I am committed to working closely with my esteemed colleagues to drive our group forward, delivering value to our customers and stakeholders while upholding our core values of ethics and integrity,” Manian said in a statement. 

Ekambaram, a whole-time director of the bank from November 2022, has been associated with the Kotak Group for over 30 years. 

“I thank the Board and the leadership team at Kotak for entrusting me with the role of Deputy Managing Director. As we embark on the next phase of scaling up Kotak, I look forward to contributing to the continued success and growth of our group. I am committed to collaborate closely with the team to drive strategic initiatives, foster innovation and uphold our commitment to excellence,” she said. 

In another key change, Devang Gheewalla has now been designated as ‘president and group chief financial officer’, with effect from 1 April. 

Gheewalla has been with the Kotak Group since 2004 and is currently the president and CFO, Banking. His new appointment is due to the superannuation of Jaimin Bhatt, who currently holds the position.

Milind Nagnur, currently the chief technology officer of the bank, has been designated as chief operating officer, with effect from 1 April. He will continue to be the bank’s chief technology officer and will also be responsible for the operations of the bank along with the group’s technology architecture and cyber security.

The bank also announced the appointment of Paul Parambi, currently the chief risk officer of the bank, as the group chief risk officer, with effect from 1 March.