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KOCHI: Krishnan Venkat Subramanian, who was the joint managing director of Kotak Mahindra Bank, will succeed Shyam Srinivasan as the managing director and CEO of Aluva-headquartered Federal Bank.
In a communique to the stock exchanges, Federal Bank said the Reserve Bank of India (RBI) approved the appointment of Subramanian as its MD & CEO when the term of Srinivasan expires on September 22, 2024.
Srinivasan has been spearheading Federal Bank, transforming it into a tech-friendly and successful private sector bank since he took charge on September 23, 2010.
Under his stewardship, Federal Bank grew into a strong mid-sized private bank with a big focus on retail business, including gold loans and funding small and medium entrepreneurs.
Subramanian, who will succeed him, was responsible for building a high-quality, integrated, and profitable franchise across various businesses for Kotak Mahindra Bank, where he was joint MD until April 30, 2024.
He has also been instrumental in upgrading the technology in these businesses and in building strong transaction banking capabilities, according to the communique.