The Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as the new Managing Director & CEO of Kotak Mahindra Bank. The announcement was made on October 20, 2023, following an application made to the RBI on July 19, 2023.
Mr. Vaswani, a seasoned banker and a global leader, will take charge for a period of three years. His tenure will commence no later than January 1, 2024. Prior to this appointment, Mr. Vaswani held significant positions at Barclays Bank, UK, where he served as CEO and was a member of their Group Executive Committee. He also served as the CEO of Citigroup Asia Pacific and was a member of the Citigroup Global Operating & Management Committees.
Uday Kotak, Founder and Director of Kotak Mahindra Bank, expressed his delight at the RBI’s approval. He praised Mr. Vaswani’s leadership skills and his focus on digital and customer-centric approaches. “Ashok is a world-class leader and banker with digital and customer focus. I am proud that we bring a ‘Global Indian’ home to build Kotak and India of tomorrow,” said Mr. Kotak.
This appointment marks a significant milestone for Kotak Mahindra Bank as it continues to strengthen its leadership team and strategic direction. With Mr. Vaswani at the helm, the bank is poised to further enhance its digital capabilities and customer-centric services.
