For Kotak Mahindra Bank, it’s getting crowded at the top

The recent elevation of Uday Kotak’s long-time associate, K.V.S. Manian, as joint MD may have been an important business decision. But it leaves the country's fourth largest private bank with three heavyweights at the top. Will they pull in the same direction?

Last week, the Reserve Bank of India (RBI) cleared the redesignation of K.V.S. Manian and Shanti Ekambaram as joint managing director and deputy managing director of Kotak Mahindra Bank, respectively. The move came across as a promotion for both the senior bankers. 

Except that there is more to these promotions.

For years, Manian and Ekambaram were perceived to have near equal standing in India’s fourth largest private bank. Both were whole-time directors and took turns heading the consumer banking and corporate banking verticals. Again, although there was no official proclamation, under Uday Kotak, they were regarded as a joint number …

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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furquan@mailtmc.com

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