Kotak veteran Manian quits, may join Federal Bank

MUMBAI:

K V S Manian

,

joint managing director

at

Kotak Mahindra Bank

, has resigned from his position, ending his 29-year association with the group. Manian is understood to be moving to

Federal Bank

, where CEO

Shyam Srinivasan

’s term ends in Sept 2024.
Initially, Manian was considered as one of the candidates to replace

Uday Kotak

as the

CEO

of Kotak Bank.

Later, he was shortlisted by Federal Bank as a potential

successor

to Srinivasan. However, when he was promoted to the position of joint managing director in Feb, it was assumed that he would stay on at Kotak.
“We are confident in the strong leadership talent at Kotak and our ability to scale our businesses,” said

Ashok Vaswani

, MD & CEO, Kotak Bank.