He is also joining the board of OFSS, which is a majority-owned subsidiary of Oracle and part of the Oracle Financial Services Global Business Unit.
Kamat takes over from NRK Raman, who is retiring from these posts after 25 years with OFSS. Raman will continue his service as Executive Advisor until the end of the calendar year, OFSS said in a filing to the Bombay Stock Exchange.
"Raman will remain actively engaged in the business through the end of the calendar year, guiding the transition. Our people and clients are critically important to our business -- therefore, we have planned and will execute a smooth and comprehensive transition," Oracle Financial Services Global Business Unit Senior Vice President and General Manager Frank Brienzi said.
Besides, S Venkatachalam has been appointed as a new independent director on the OFSS Board. Currently he also sits on the boards of Bharti-AXA Trustee Services Ltd and State Bank of India, the filing added.
Published 25 October 2010, 06:33 IST