Ashok Vaswani takes charge as Kotak Mahindra Bank MD & CEO from January 1

Ashok Vaswani has taken charge as the managing director and chief executive officer of Kotak Mahindra Bank on January 1, the private sector lender said in a filing to the stock exchanges.

Furthermore, C S Rajan, independent director, has assumed the office as the part-time chairman of the bank, with effect from January 1, 2024.

"Dipak Gupta has completed his term as the managing director and chief executive officer of the bank on December 31, 2023, and has ceased to be a director and the managing director and chief executive officer of the bank on the completion of his term," the bank said. Prakash Apte completed his term as the part-time chairman of the bank on December 31, 2023, and ceased to be a director and the part-time chairman of the bank on the completion of his term.

Additionally, Eli Leenaars has assumed the position as an independent director of the bank, with effect from January 1, 2024, the bank said.

(Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)