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Two Internal Candidates Vie for Kotak CEO Post
31 Aug
Summary
- Two internal candidates recommended for CEO role.
- Successor to Ashok Vaswani needed by end of 2026.
- New CEO to accelerate growth towards top 3 ranking.
Kotak Mahindra Bank has initiated the process to find a new Chief Executive Officer, recommending executive directors Anup Saha and Paritosh Kashyap to the Reserve Bank of India. This move follows CEO Ashok Vaswani's decision not to seek reappointment when his term expires on December 31, 2026.
Vaswani, who took over from founder Uday Kotak on January 1, 2024, has led the bank with ambitions of becoming India's third-largest private lender by after-tax profit. The upcoming CEO appointment is crucial for maintaining and accelerating this growth trajectory.
Anup Saha joined Kotak this year and leads the retail banking business, while Paritosh Kashyap, a long-serving executive, oversees wholesale banking. The Reserve Bank of India will now evaluate the nominated candidates.
