Kotak Mahindra Bank has announced that KVS Manian, the Whole Time Director and Joint Managing Director, has resigned to pursue other opportunities in the Financial Services sector. The Board has accepted his resignation with immediate effect.
The Wholesale, Commercial and Private Bank will now report directly to Ashok Vaswani, Managing Director & CEO, while the Asset Reconstruction Division will report into Shanti Ekambaram, Deputy Managing Director. Shanti will also oversee the Investment Banking and Institutional Equities businesses. Leveraging its strong leadership strength, the Bank announced a new reporting structure to drive a sharper focus and leadership oversight to its business.
Commenting on the development, Ashok Vaswani, MD & CEO, Kotak Mahindra Bank said “Manian has spent over 29 years at Kotak and we are thankful to him for his association and we wish him well in his future endeavours.”