Kotak’s Manian Vies With Federal Bank’s Executives to Be CEO

Federal Bank Ltd’s list of candidates to head the Indian lender features two insiders alongside K.V.S Manian, who resigned this week from Kotak Mahindra Bank Ltd., according to people with knowledge of the matter. 

Kotak’s Manian Vies With Federal Bank’s Executives to Be CEO

The bank’s board is seeking a replacement for Shyam Srinivasan, whose tenure as chief executive officer ends in September, the people said, asking not to be identified as the information is confidential. Harsh Dugar and Shalini Warrier, both currently executive directors at the lender, as well as Manian, are on the list of potential candidates the board plans to send to the regulator soon, they said. 

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Executive search firm Egon Zehnder is leading the search, the people said.

Federal Bank said it had identified two internal candidates for the role at its post earnings call on Thursday, without elaborating. A spokesperson for the bank declined to comment. Manian did not return messages seeking comment. 

Manian was once touted as a potential CEO at Kotak before the position went to an external candidate. At Kotak, he spearheaded growth at the wholesale bank, commercial bank and private banking, as well as oversaw the institutional equities and investment banking businesses. 

Kotak’s Manian, Once Seen as Potential CEO, Leaves Bank

Warrier, the top-ranking woman executive at Federal Bank, joined the lender as chief operating officer in 2015 and expanded her responsibilities to be business head of retail banking products in 2019. Dugar joined in 2016 as country head for corporate and institutional banking after spending two decades at HDFC Bank Ltd. He was appointed executive director in 2023, after serving as group president and country head for wholesale banking at the bank. 

Federal Bank has more than 1,500 banking outlets and 1,400 ATMs serving over 18 million customers, according to its website. This week, the bank’s shares hit a record amid local media reports that Manian may join as CEO. 

This article was generated from an automated news agency feed without modifications to text.

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