Shrinath Bolloju will succeed Gunit Chadha as the chief executive officer for Deutsche Bank’s India business, industry sources told Business Standard on Monday.
Bolloju, currently chief operating officer of the bank in India, has been appointed for an interim period. The Reserve Bank of India had approved the appointment, sources said.
Chadha has relocated to Singapore after he was named as the co-chief executive of Deutsche Bank’s Asia-Pacific operations. He and Alan Cloete (also appointed co-chief executive for the Asia-Pacific) have also joined Deutsche Bank’s global group executive committee.
Bolloju, a veteran banker with two decades of experience, is known for his ‘people and change management’ skills. He started his career with Citi in their information technology arm in India in 1988, working mainly in the securities processing business.
He moved to Singapore in 1995. After spending a year with a technology product company, System Access, Bolloju joined Deutsche Bank.
He was given several regional responsibilities, including information technology management for private banking, securities custody, fixed income and equities. He was responsible for settlement systems for the Asia region supporting all the regional installations.
Bolloju relocated to London in May 2002 to take up global responsibility for Deutsche Bank’s core banking platform dbInternet. His next assignment was as chief operating officer for personal and corporate banking information technology. In this role, he was overseeing integration of the new organisation and set up working processes in the COO team for the smooth administration of a division with a total cost base of ^1 billion.
In July 2005, he was given responsibility to run the securities and custody operations globally for Deutsche Bank. A year later, he relocated to India as global head of corporate trust and agency services operations.
Bolloju became group chief operating officer at Deutsche Bank India from May 2008. He is an alumnus of SP Jain Institute of Management & Research, Mumbai.
