Kotak Mahindra Bank (‘the Bank’) today informed the exchanges that KVS Manian, Whole Time Director designated as Joint Managing Director has stepped down from his position to pursue other opportunities in the Financial Services sector. The Board has accepted his resignation with immediate effect.

Leveraging its strong leadership strength, the Bank announced a new reporting structure to drive a sharper focus and leadership oversight to its business.

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.

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. We are confident of the strong leadership talent at Kotak and our ability to scale our businesses to the next level in times to come.”