Kotak Mahindra Redesignates KVS Manian As Joint Managing Director

Kotak Mahindra Bank Ltd. has re-designated KVS Manian as the lender's joint managing director as of March 1.

Manian was previously appointed as the whole-time director on Nov.1, 2019 and later re-appointed for a further period of three years. He played a vital role in Kotak's journey from an NBFC to a bank, the lender said in a statement.

The bank has also re-designated Shanti Ekambaram as deputy managing director, subject to approval, according to exchange filings.

Shanti Ekambaram was appointed as whole-time director in Nov. 2022 and has been associated with the Kotak Group for over 30 years, it said.

Further, Devang Gheewalla and Milind Nagnur have been appointed as chief financial officer and chief operating officer, respectively, from March 31 and April 1, the filings said.

Gheewalla has been part of the Kotak Group since 2004, along with being a part of the Key Leadership Team of Kotak since 2014, while Nagnur holds a global experience of 20 years in technology leadership, predominantly in the banking and fintech space, it said.

Shares of Kotak India closed 0.25% lower at Rs 1731.50 apiece, compared to a 0.39% rise in the benchmark BSE Sensex.