<p>New Delhi: Kotak Mahindra Bank on Monday said veteran banker Ashok Vaswani has assumed charge as the managing director (MD) and CEO of the bank.</p>.<p>He replaced Dipak Gupta, who was the interim MD and CEO, following founder director Uday Kotak stepping down as the head of the bank, effective September 1, 2023.</p>.<p>"Ashok Vaswani has assumed the office as the Managing Director & CEO of the Bank, with effect from January 1, 2024," Kotak Mahindra Bank said in a regulatory filing.</p>.<p>The Reserve Bank of India (RBI) in October 2023 approved the appointment of Vaswani as the bank's MD and CEO for a period of three years.</p>.RBI extends PIDF scheme by 2 years till Dec 2025.<p>Like Uday Kotak, he is also an alumnus of the Sydenham College of Commerce and Economics. Vaswani is also a qualified chartered accountant and company secretary.</p>.<p>Vaswani had worked with Barclays in the recent past. Prior to this, Vaswani was the President of Pagaya Technologies Ltd -- a US-Israeli AI Fintech player.</p>.<p>He has a proven track record spanning three-and-a-half decades, initially at Citigroup and more recently at Barclays.</p>.<p>The regulatory filing also said CS Rajan has assumed charge of chairman of the bank.</p>.<p>Rajan's appointment as the part-time chairman of the board follows the retirement of Prakash Apte, whose term expired on December 31, 2023.</p>.C S Rajan appointed as chairman of Kotak Mahindra Bank.<p>Rajan was appointed as an Independent Director on the board of the bank with effect from October 22, 2022, the filing said.</p>.<p>An IAS officer of the 1978 batch, he retired as Chief Secretary of the Rajasthan government in 2016.</p>.<p>Meanwhile, the filing said, Eli Leenaars (full name: Cornelis Petrus Adrianus Joseph Leenaars) has assumed the position as an Independent Director of the Bank, with effect from January 1, 2024.</p>
<p>New Delhi: Kotak Mahindra Bank on Monday said veteran banker Ashok Vaswani has assumed charge as the managing director (MD) and CEO of the bank.</p>.<p>He replaced Dipak Gupta, who was the interim MD and CEO, following founder director Uday Kotak stepping down as the head of the bank, effective September 1, 2023.</p>.<p>"Ashok Vaswani has assumed the office as the Managing Director & CEO of the Bank, with effect from January 1, 2024," Kotak Mahindra Bank said in a regulatory filing.</p>.<p>The Reserve Bank of India (RBI) in October 2023 approved the appointment of Vaswani as the bank's MD and CEO for a period of three years.</p>.RBI extends PIDF scheme by 2 years till Dec 2025.<p>Like Uday Kotak, he is also an alumnus of the Sydenham College of Commerce and Economics. Vaswani is also a qualified chartered accountant and company secretary.</p>.<p>Vaswani had worked with Barclays in the recent past. Prior to this, Vaswani was the President of Pagaya Technologies Ltd -- a US-Israeli AI Fintech player.</p>.<p>He has a proven track record spanning three-and-a-half decades, initially at Citigroup and more recently at Barclays.</p>.<p>The regulatory filing also said CS Rajan has assumed charge of chairman of the bank.</p>.<p>Rajan's appointment as the part-time chairman of the board follows the retirement of Prakash Apte, whose term expired on December 31, 2023.</p>.C S Rajan appointed as chairman of Kotak Mahindra Bank.<p>Rajan was appointed as an Independent Director on the board of the bank with effect from October 22, 2022, the filing said.</p>.<p>An IAS officer of the 1978 batch, he retired as Chief Secretary of the Rajasthan government in 2016.</p>.<p>Meanwhile, the filing said, Eli Leenaars (full name: Cornelis Petrus Adrianus Joseph Leenaars) has assumed the position as an Independent Director of the Bank, with effect from January 1, 2024.</p>