Kotak Mahindra Bank’s shares surged 2.5% to hit a new 52 week high on Monday after the bank announced Bhavnish Lathia as its new Chief Technology Officer (CTO). The position had been vacant since the resignation of Milind Nagnur, who stepped down as Chief Operating Officer (COO) and CTO on February 15 for personal reasons.
Lathia, who has been with the bank since August 2022, previously served as Chief of Customer Experience and Head of Technology – Consumer Bank. He brings over 27 years of global experience in technology, product management, and platform development.
Announcing the appointment, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said, “Bhavnish has played a crucial role in driving our technology initiatives, building a world-class team of engineers. With his leadership, we will set new benchmarks in banking technology.”
Lathia holds a Bachelor’s degree in Computer Engineering, an MS in Computer Science, and an MBA. As a key member of the leadership team, he is expected to enhance the bank’s digital transformation strategies.
Kotak Mahindra Bank’s shares opened at ₹2,100.00 and surged to a 52-week high of ₹2,132.70, reflecting strong investor confidence. The stock recorded a low of ₹2,090.25 during the session.
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