NEW DELHI: Private sector lender IDFC First Bank on Friday said its non-executive chairman Rajiv B. Lall has resigned from the post with immediate effect. Lall has cited that he has been dealing with his prolonged personal health issues for a while now, the bank said.
In his communication to the bank, he has said in view of his prolonged health issues the Bank had thought through a succession plan for the position. Lall is a veteran banker and served as the founder managing director and chief executive officer of IDFC First Bank from October 1, 2015, till December 18, 2018, before being appointed as non-executive chairman of the bank.
Prior to joining IDFC, Lall served as a partner with Warburg Pincus in New York, head of Asian Economic Research with Morgan Stanley in Hong Kong, a senior staff member of the World Bank in Washington and that of the Asian Development Bank in Manila.
He has also served on numerous committees of the government and the Reserve Bank of India, such as the Raghuram Rajan Committee on Financial Sector Reforms, the High-Powered Expert Committee for Urban Infrastructure and Committee on Modernisation of Railways.