Banks bureau shortlists MDs for four banks

MUMBAI: The Banks Board Bureau, the body which selects chief executives for financial entities in the public sector, has identified managing directors for four lenders – Union Bank of India, Indian Overseas Bank, Punjab & Sind Bank and State Bank of India.

The board has shortlisted A Manimekhalai for MD & CEO of Union Bank of India, Ajay Kumar Srivastava for the position of MD & CEO of Indian Overseas Bank and Swaroop Kumar Saha for Punjab & Sind Bank. Alok Kumar Choudhary has been recommended for the position of MD in the State Bank of India. The final appointments will be notified by the government based on these recommendations.

Manimekhalai has been the executive director in Canara Bank since February 2019. He has been nominated as successor to Rajkiran Rai whose term as CEO ends in May 2022. Srivastava is executive director of Indian Overseas Bank and was granted a two-year extension in this position in October 2020. Partha Prathim Sengupta is the current CEO of IOB and he has been given an appointment up to superannuation or December 2022. S Krishnan, the CEO of Punjab & Sind Bank will also complete his term in May 2020.

Announcing the shortlisted candidates, the bureau said that it had interactions with 15 candidates from various public sector banks between March 5 and 6 and March 15 and 16 for the positions.



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