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The Reserve Bank of India (RBI) has appointed R Subramaniakumar as Managing Director and CEO of the Bank for three years. Subramaniakumar’s tenure will begin from the date of his taking charge, under Section 35B of the Banking Regulation Act 1949. In its regulatory filing, RBL Bank said; that a meeting of the Board of Directors of the Bank will be convened in due course upon the completion of requisite formalities. In a statement, RBL Bank highlighted; that the search committee constituted to identify the MD & CEO for the Bank ran an exhaustive process. Along with Egon Zehnder and recommended the name of R Subramaniakumar, a highly capable and meritorious person for the job.
Welcoming Subramania Kumar, the Chairman of the Board, Prakash Chandra said; A veteran in the industry, his experience and support will further strengthen our organization. He is confident that his leadership will present an opportunity for us to reinvent and unlock the immense potential of the Bank. Also, welcoming the new MD & CEO, Rajeev Ahuja, the interim MD & CEO, said; He brings with him a wealth of experience which the Bank will greatly benefit from. He extended his complete support to him and looks forward to working together and taking the Bank forward in its growth journey.
In his new post, R Subramaniakumar said; He is excited to partner with the Management team at RBL Bank and helps it scale new heights, given the strength of the Bank. The immense opportunity which lies ahead. RBL Bank has achieved phenomenal success ever since its transformation began about a decade back. He is sure they will script another phenomenal story going forward. R Subramaniakumar is a veteran Banker with 40 years of experience. His banking career commenced with Punjab National Bank (“PNB”) in 1980. He headed Business Transformation at PNB for 3 years. He transformed Business, especially Digital, Human Resources, MSME, Retail, Overseas operations, etc.
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