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Kotak Bank CEO Vaswani won't seek reappointment
27 Jun
Summary
- Ashok Vaswani to step down as MD & CEO of Kotak Mahindra Bank.
- His tenure concludes on December 31, 2026, for personal reasons.
- The bank's board has begun the search for a new chief.
Ashok Vaswani, the Managing Director and CEO of Kotak Mahindra Bank, has decided not to seek reappointment when his current term ends on December 31, 2026. He has communicated this decision to the bank's board, citing personal reasons.
The board has accepted Vaswani's decision and has commenced the process to appoint a new MD & CEO. This selection process is expected to be completed within the regulatory timelines established by the authorities.
Vaswani, who has over 35 years of experience in global financial services, assumed his role on January 1, 2024. His appointment for a three-year term was previously approved by the Reserve Bank of India in October 2023.
Prior to joining Kotak Mahindra Bank, Vaswani held significant leadership positions at major financial institutions, including Barclays and Citigroup, where he was involved in retail, consumer, corporate, and payments businesses, as well as driving digital transformation.
