Kotak veteran Manian quits, may join Federal Bank

MUMBAI: K V S Manian, joint managing director at Kotak Mahindra Bank, has resigned from his position, ending his 29-year association with the group. Manian is understood to be moving to Federal Bank, where CEO Shyam Srinivasan’s term ends in Sept 2024.
Initially, Manian was considered as one of the candidates to replace Uday Kotak as the CEO of Kotak Bank.Later, he was shortlisted by Federal Bank as a potential successor to Srinivasan. However, when he was promoted to the position of joint managing director in Feb, it was assumed that he would stay on at Kotak.
“We are confident in the strong leadership talent at Kotak and our ability to scale our businesses,” said Ashok Vaswani, MD & CEO, Kotak Bank.