Banks seek talent for on-tap CXO hiring

State-run banks are increasingly turning to consultants, empanelling them to identify domain experts and speed up future hires as and when they need executives for specialized C-suite roles.

- Shayan Ghosh & Devina Sengupta

Punjab National Bank (PNB), Union Bank of India and Central Bank of India are among those looking for consultants. Although banks have their internal cadres, some of these specialized roles require domain expertise that is not always readily available within the workforce. These roles include chief technology officer, chief financial officer, chief risk officer, chief digital officer, chief information security officer and chief economic adviser.

Banks are selecting consultants beforehand, ensuring they can tap these consultants when the need for specialized talents arises. While banks have the final say in whom they hire from those shortlisted by consultants, their involvement leads to quicker hiring for critical positions, a senior public sector banker said on the condition of anonymity.