KOTAK MAHINDRA BANK on Saturday announced that the Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as CEO & MD of the private sector lender, succeeding Uday Kotak. The announcement comes as a surprise amid speculation that an internal candidate would be preferred for the job. The appointment will be for a three-year period.
Vaswani is presently president of Pagaya Technologies, a US-Israel fintech firm, and has worked with marquee banks, including Citigroup and Barclays. He was chief executive officer of Barclays Bank UK and subsequently CEO of their global consumer, private, corporate and payments businesses and member of the group executive committee. Earlier, he was CEO for Citi's Asia Pacific Consumer Bank.
He was also a member of the Citigroup operating committee, the Citigroup management committee and global consumer planning group.
Posting about the appointment, Kotak, who is non-executive director on the bank's board, wrote on X: "I am delighted that the RBI has approved our recommendation,Ashok Vaswani, as the next CEO of Kotak Mahindra Bank.
This story is from the October 22, 2023 edition of Financial Express Mumbai.
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This story is from the October 22, 2023 edition of Financial Express Mumbai.
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