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August 19, 2015

List of Newly Appointed Heads of Banks

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Friends, The government has recently appointed new heads for five banks, including two from the private sector, as part of fresh measures to improve the performance of the state-owned banks, which are struggling with rising bad loans. 
Important Point to Note : For the First Time, union Government has appointed TWO Private Sector Banking Professionals to head the Public Sector Banks (PSBs). They are,

  • P S jayakumar : MD and CEO of Bank of Baroda (BoB).
  • Rakesh Sharma : MD and CEO of Canara Bank  
Apart from these two, Financial Services Secretary Hasmukh Adhia has announced names of MD and CEOs of Bank of India, IDBI Bank and Punjab National Bank. These three executive heads are serving officials in other government owned banks.
Here is the list of newly appointed MD, CEOs and Non-Executive Chairmen :

Newly appointed state-owned banks’ Managing Directors and CEOs

Name of the Bank
Name of the Official
Present Position
Brief Profile
Bank of Baroda
P S Jayakumar
MD / CEO, VBHS, Value Homes Pvt Ltd
Formerly with Citi Bank, where he started his career. Has held senior positions in Citibank India and Asia-Pacific
Bank of India
M O Rego
Deputy Managing Director, IDBI Bank
Career banker with IDBI Bank, with extensive work in currency derivatives, international banking, and treasury
Canara Bank
Rakesh Sharma
MD / CEO, Laxmi Vilas Bank Ltd
Former Chief GM at SBI. Has held various domestic and international positions at SBI.
Kishore Piraji Kharat
Executive Director, Union Bank of India
Former senior executive at Bank of Baroda, where he also headed the Financial Inclusion division
Punjab National Bank
Usha Ananthasubramanian
CMD, Bharatiya Mahila bank
Formed ED of PNB. Has also had stints in bank of Baroda and LIC. Was appointed as the first chairperson of BMB, which made India only the third country to have a bank dedicated to women.

Newly appointed state-owned banks’ Non-Executive Chairmen

Name of the Bank
Name of the Official
Present / Last Position
Brief Profile
Bank of Baroda
Ravi Venkatesan
Independent Director, Infosys
Former head of Cummins India and Microsoft India
Currently also on Advisory Board of Bunge Ltd and Global Alumni Board of Harvard Business School
Bank of India
G Padmanabhan
Retd Executive Director, RBI
In RBI, Headed IT Systems, Payment and Settlement Systems, and Foreign Exchange
Canara Bank
T N Manoharan
Director, Tech Mahindra Public Health Foundation
Former President of Institute of Chartered Accountants of India. Was also on the board of the Insurance regulator IRDA
Vijaya Bank
G Narayanan
Retd Executive Director, Indian Overseas Bank
Had served as MD of Centrum Capital and Securities Trading Corp. Also headed treasury ops of Bank of India
Indian Bank
T C V Subramanian
Retd CMD, Exim Bank
Spent a career at EXIM Bank since its foundation
Has also worked at Bank of India, IDBI

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