Kotak Mahindra Bank appoints Devang Gheewalla as CFO, Milind Nagnur as COO from April 1

Kotak Mahindra Bank has declared several top-level management changes on Monday. Devang Gheewalla is set to become the new Chief Financial Officer, effective from April 1, 2024, replacing Jaimin Bhatt who is due to retire on March 31, 2024. 

Milind Nagnur, the current Chief Technology Officer, will take on the role of Chief Operating Officer from April 1, 2024, but will also continue his duties as the Bank’s Chief Technology Officer. 

"It may be noted that Mr. Nagnur shall continue to be the Bank’s Chief Technology Officer and will also be responsible for Operations of the Bank as also the Group Technology Architecture and Cyber Security," said Kotak Mahindra Bank in a stock exchange filing.

KVS Manian has been re-designated as the Joint Managing Director, effective from March 1, 2024, and Shanti Ekambaram has been re-designated as the bank's Deputy Managing Director, also effective from March 1, 2024.

KVS Manian, Whole-Time Director, Kotak Mahindra Bank said, “We are embarking on an exciting journey of growth and innovation, and I am honoured 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”.

Shanti Ekambaram, Whole-Time Director, Kotak Mahindra Bank said, “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.”

In addition, CNBC-TV18 had earlier reported that Federal Bank has shortlisted KVS Manian as a CEO candidate.

Also Read: Paytm crisis: Only KYC lapses, ED finds no forex breaches at Paytm Payments Bank so far