Ashok Vaswani to be Kotak Mahindra Bank MD & CEO

NEW DELHI: The board of Kotak Mahindra Bank on Friday approved the appointment of Ashok Vaswani as a director, MD-CEO of the bank.

Last month, the Reserve Bank of India had approved the appointment of Vaswani as the bank’s MD-CEO for a period of three years. The board of directors at their meeting on Friday appointed him as a director and MD and CEO a Key managerial personnel of the bank, for a period of three years with effect from January 1, 2024, Kotak Mahindra Bank said in a regulatory filing.

This is subject to the approval of the members of the bank, it said. Vaswani, who has worked with Barclays in the recent past, will succeed Uday Kotak, who quit as the MD of the bank effective September 1.