Kotak Mahindra Bank Appoints Devang Gheewalla As Group CFO

Kotak Mahindra Bank Ltd. appointed Devang Gheewalla as president and group chief financial officer, effective 1 April.

Gheewalla, aged 56 years, will replace Jaimin Bhatt, who will retire from the services of the bank on 31 March, the Indian private sector lender said in a stock exchange announcement.

Gheewalla has been with the Kotak Group since 2004 and is currently president and CFO of banking, according to the statement. He is a chartered accountant and a cost and works accountant and has varied experience in the areas of finance, advisory, operations and audit, it said.

Kotak Mahindra Bank said it also redesignated Whole-Time Director K.V.S. Manian as joint managing director and Whole-Time Director Shanti Ekambaram as deputy managing director of the bank. Both the changes, effective from 1 March, are subject to the necessary approvals.

The lender also appointed Chief Technology Officer Milind Nagnur as chief operating officer with effect from 1 April. He, however, will continue to be the chief technology officer and also be responsible for operations of the bank as group technology architecture and cyber security.

Kotak Mahindra Bank also appointed its Chief Risk Officer Paul Parambi as group chief risk officer of the bank, with effect from 1 March.

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