Shailendra Bhandari, former managing director and CEO of erstwhile Centurion Bank of Punjab, is likely to be appointed as the new chief executive officer of private sector lender ING Vysya Bank, banking sources said today.
Bhandari had joined Tata Capital in August 2008 to head its private equity venture, after overseeing the merger of Centurion Bank of Punjab with HDFC Bank earlier that year.
On July 3, Tata Capital had announced that Bhandari will be leaving the company by end-July to pursue other opportunities. The company’s PE venture, launched less than a year ago, is still in the process of raising its first fund. At ING Vysya, Bhandari will take over from the officer-in-charge Jayant Mehrota — the chief financial officer of the bank — who has been standing in since Vaughn Richtor’s move in April to the senior management of the ING Group.
