2023-12-28 15:12:00
In 2024, several major public and private sector banks are poised to see changes in their leadership. At least eight banks, including Axis Bank, DCB Bank, Federal Bank, Punjab National Bank (PNB), Indian Bank, IDFC First Bank, J&K Bank, and Bank of Maharashtra (BoM), are set to have new MDs and CEOs.
For private banks, the tenure of Axis Bank’s CEO Amitabh Chowdhury and Punjab National Bank’s CEO Atul Goyal is set to end by December 31, 2024. There have been no announcements regarding the selection process for their replacements.
Shyam Srinivasan, the Managing Director and CEO of Federal Bank, will also see his tenure end on September 22, 2024, with no recent updates on the appointment of a new MD.
TCP Bank is currently searching for a new CEO, with the board shortlisting candidates and preparing to submit the shortlist to the Reserve Bank of India (RBI) for approval. The current MD and CEO, Murali Natarajan’s tenure ends on April 28, 2024.
Vaidyanathan, the MD & CEO of IDFC First Bank, will have his current tenure ending on December 19, 2024, with no recent announcement regarding a replacement.
In the public sector, Shanti Lal Jain’s tenure as MD and CEO of Indian Bank ends on August 1, 2024, while Rajiv’s term as the MD and CEO of Bank of Maharashtra ends in April 2024. Baldev Prakash’s tenure as MD and CEO of J&K Bank also ends on December 31, 2024.
In 2023, there were several new appointments and re-appointments to top positions in banks, including Kotak Mahindra Bank, HDFC Bank, UCO Bank, Bank of India, Bank of Baroda, and Canara Bank. The government also approved the appointment of 12 new managing directors for various public sector banks.
These changes in leadership at major banks could have significant implications for the banking sector and the economy as a whole. The selection of new MDs and CEOs will be closely watched by industry experts and stakeholders.
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