Kotak Mahindra Bank Managing Director (MD) and Chief Executive Officer (CEO) Ashok Vaswani will step down after the completion of his tenure on December 31, 2026. The bank informed the stock exchange about this. The bank said Vaswani has decided not to seek re-appointment due to personal reasons. Respecting his decision, the bank’s board has started the process of appointing a new MD and CEO. Vaswani informed the board about the decision. Kotak Mahindra Bank said in its regulatory filing that Ashok Vaswani has informed the board about his decision. He does not want to hold this post again after the completion of his current term. The board accepted his decision in its meeting held today. The process of appointment of new MD and CEO will be completed within the stipulated time frame. Took command after the resignation of Uday Kotak. Former executive of British bank Barclays Ashok Vaswani was appointed to this post after the resignation of billionaire banker Uday Kotak in September 2023. After this, Vaswani took charge on January 1, 2024 for a tenure of 3 years, which was approved by the Reserve Bank of India (RBI) in October 2023. With over 35 years of experience in global banking leading Barclays’ digital transformation, Vaswani served as CEO of Barclays UK. He then took charge of the bank’s global consumer, private, corporate and payments businesses, where he led the digital transformation of the bank by redesigning the technology architecture. At Citigroup he was CEO of Asia-Pacific Consumer Banking. He has also been on the boards of London Stock Exchange Group, Visa and SP Jain Institute of Management and Research. Vaswani is also a Chartered Accountant and Company Secretary. Apart from being a Commerce graduate, Ashok Vaswani is also a Chartered Accountant (CA) and Company Secretary (CS). He has also completed executive education from Stanford Graduate School of Business. Apart from Vaswani, Kotak Bank’s senior leadership currently includes three whole time directors – Anoop Kumar Saha, Jaideep Hansraj and Paritosh Kashyap. Also read this news… Uber India CEO Prabhjeet Singh resigns: Will join OpenAI in September, will hold the post of Country Managing Director. Uber India CEO Prabhjeet Singh has resigned from his post. He will join the India operations of OpenAI, the company behind ChatGPIT, as Country Managing Director (MD) in September. Read the full news…
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Ashok Vaswani will leave the post of MD-CEO of Kotak Bank: He will not be appointed again after December 2026; The board started the search for a new CEO
