Kotak Mahindra Bank announces Devang Gheewalla as CFO, Milind Nagnur as COO from April 1

On Monday, Kotak Mahindra Bank unveiled a series of changes in its senior management team. Devang Gheewalla has been named the new Chief Financial Officer, effective from April 1, 2024. Jaimin Bhatt, the current Group President and Group Chief Financial Officer, will retire on March 31, 2024, handing over the reins to Gheewalla.

Milind Nagnur, presently serving as the Chief Technology Officer, will assume the role of Chief Operating Officer of the Mumbai-based bank, also starting from April 1, 2024. Kotak Mahindra Bank clarified in a stock exchange filing that Nagnur will retain his position as Chief Technology Officer while taking on additional responsibilities for bank operations, Group Technology Architecture, and Cyber Security.

Furthermore, the bank disclosed that KVS Manian, who currently holds the position of Whole-time Director, will be re-designated as Joint Managing Director effective March 1, 2024.

KVS Manian, Whole-Time Director, Kotak Mahindra Bank said, “We are embarking on an exciting journey of growth and innovation, and I am honoured to step into this new role as Joint Managing Director. I am committed to working closely with my esteemed colleagues to drive our group forward, delivering value to our customers and stakeholders while upholding our core values of ethics and integrity”.

Shanti Ekambaram, currently a Whole-time Director, has been re-desingated as the bank’s Deputy Managing Director with effect from March 1, 2024.
Shanti Ekambaram, Whole-Time Director, Kotak Mahindra Bank said, “I thank the Board and the leadership team at Kotak for entrusting me with the role of Deputy Managing Director. As we embark on the next phase of scaling up Kotak, I look forward to contributing to the continued success and growth of our group. I am committed to collaborate closely with the team to drive strategic initiatives, foster innovation and uphold our commitment to excellence.”


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