Kotak Mahindra Bank on Friday, November 17, said it has appointed Ashok Vaswani as its managing director (MD) and chief executive officer (CEO) from January 1, 2024. The bank’s board has appointed Vaswani for a period of three years, subject to the approval of the members of the bank, according to an exchange filing.
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The appointment of Vaswani follows the conclusion of Dipak Gupta’s term as the Managing Director and CEO of the bank, slated to end on December 31, 2023. The Reserve Bank of India had cleared Vaswani’s name for the post on October 21.
Uday Kotak, Founder and Director of Kotak Mahindra Bank, earlier expressed his confidence in Ashok Vaswani, describing him as a world-class leader and banker with a strong focus on digital innovation and customer satisfaction.
Vaswani has a robust track record amassed over three and a half decades in the banking sector. His journey encompasses roles at institutions such as Citigroup and Barclays. Notably, he served as the Chief Executive Officer of Barclays Bank, UK, and held leadership positions in various sectors including Global Consumer, Private, Corporate, and Payments businesses.
He currently serves as the President of Pagaya Technologies Ltd, an AI Fintech company based in the United States and Israel. Additionally, he holds a position on the board of the London Stock Exchange Group.
