Kotak Bank rejigs corporate, i-banking arm

Private sector lender Kotak Mahindra Bank today elevated T V Raghunath as the head of the corporate and investment banking division and also announced multiple appointments in its investment banking division, Kotak Mahindra Capital Company (KMCC).



Raghunath, who was managing director and chief executive of KMCC, will continue to oversee investment banking, and report to bank president for corporate, institutional and investment banking KV S Manian, the bank said in a statement.

"With these organisational changes, I am confident that we are well structured to achieve the next level of growth," Manian said.

S Ramesh, who is at present a joint managing director of the investment banking division, has been elevated to replace Raghunath as the MD and CEO, it said.

Sourav Mallik, who serves as senior executive director and head of mergers and acquisitions at the investment banking arm, is being elevated to replace Ramesh, while the equities business will be headed by V Jayasankar.

Pankaj Kalra will play a significant leadership role in coverage and ideation for corporates in the corporate advisory group of the investment bank, the statement said.

Kotak Mahindra Bank got the RBI approval earlier this week for its merger deal with ING Vysya Bank