New Delhi: Kotak Mahindra Bank has announced significant changes in its senior executive team, with KVS Manian stepping down as Joint Managing Director and Shanti Ekambaram resigning as Deputy Managing Director, effective March 1, 2024. Both KVS and Shanti currently hold positions as whole-time directors at the bank.

These changes come after the appointment of Ashok Vaswani as Managing Director and Chief Executive Officer in January 2024. Furthermore, the bank has appointed Milind Nagnur as Chief Operating Officer, Devang Gheewalla as President and Group Chief Financial Officer, and Paul Parambi as Group Chief Risk Officer.

Devang will take over responsibilities from Jaimin Bhatt, who will retire on March 31, 2024, after more than 28 years of service. Nagnur, who also serves as Chief Technology Officer, will maintain his role alongside his new duties.

In her new role, Shanti will focus on driving growth in treasury and global markets, as well as overseeing HR, group marketing, corporate communications, public affairs, CSR, and ESG. She will also supervise operations at Kotak Mahindra Financial Services and Kotak Karma subsidiaries.