Kotak Mahindra Bank elevates T V Raghunath as head of corporate banking arm KMCC

Kotak Mahindra Bank, the private sector lender, on Saturday elevated T V Raghunath as the head of its corporate and investment banking arm Kotak Mahindra Capital Company (KMCC).

Besides, the private sector lender - which has got all the regulatory approvals to take over ING Vysya Bank earlier this week - also announced multiple appointments in KMCC.

"Raghunath, who was managing director and chief executive of KMCC, will continue to oversee investment banking, and report to bank president for corporate, institutional and investment banking KV S Manian, the bank", Kotak Mahindra said in a statement.

"With these organisational changes, I am confident that we are well structured to achieve the next level of growth," Manian said.

"S Ramesh, who is at present a joint managing director of the investment banking division, has been elevated to replace Raghunath as the MD and CEO", the bank said.

Sourav Mallik, who serves as senior executive director and head of mergers and acquisitions at the investment banking arm, is being elevated to replace Ramesh, while the equities business will be headed by V Jayasankar.

Pankaj Kalra will play a significant leadership role in coverage and ideation for corporates in the corporate advisory group of the investment bank, the statement said.