Federal Bank Ltd, a leading private sector lender, announced on Monday that the Reserve Bank of India (RBI) has given its nod to Krishnan Venkat Subramanian as the Managing Director and Chief Executive Officer (CEO) of the bank, effective from September 22, 2024.
In a regulatory filing, Federal Bank stated, “We are pleased to inform you that following our application submitted to the Reserve Bank of India on May 6, 2024, seeking approval for the appointment of a new Managing Director & CEO, the RBI has approved the appointment of Krishnan Venkat Subramanian as the Managing Director & CEO of the Bank for a tenure of 3 years, commencing from September 23, 2024, subsequent to the conclusion of the current MD & CEO’s term on September 22, 2024.”
Prior to this appointment, Subramanian served as the Joint Managing Director at Kotak Mahindra Bank Ltd until April 30, 2024. His tenure at Kotak Mahindra Bank was marked by significant contributions across corporate banking, commercial banking, private banking, and asset reconstruction, fostering robust technological advancements and enhancing transaction banking capabilities. He also played a pivotal role in elevating the bank’s investment banking and institutional equities segments.
With extensive experience spanning various domains including consumer banking and NBFC operations, Subramanian holds a degree in Electrical Engineering from the Indian Institute of Technology (BHU) – Varanasi, and has pursued postgraduate studies in Financial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai. Additionally, he is a qualified Cost and Works Accountant. Federal Bank’s shares closed at ₹192.80 on the Bombay Stock Exchange, marking an increase of ₹1.35, or 0.71% at the end of trading today.
