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Kotak Mahindra Bank appoints Ashok Vaswani as MD and CEO

Vaswani has worked with companies like Citi Group, Barclays, London Stock Exchange Group and Brysam Global Partners.

Ashok Vaswani will lead as the managing director and CEO for Kotak Mahindra Bank.

Prior to this, Vaswani was serving as the president of Pagaya, a financial technology company, based in US.

He assumed the new role after Dipak Gupta, who served as the interim MD and CEO following the departure of Uday Kotak, the bank's founder director, stepped down as head on September 1, 2023.

Back in October 2023, Uday Kotak, founder, Kotak Mahindra Bank, shared a post on X stating that, “I am delighted that the RBI has approved our recommendation, Ashok Vaswani, as the next CEO of Kotak Mahindra Bank. Ashok is a world class leader and banker with digital and customer focus. I am proud that we bring a ‘Global Indian’ home to build Kotak and India of tomorrow.”

With more than three and a half decades experience, Vaswani specialises in retail strategy building, financial services, business analysis, commercial banking and credit risk, to list a few.

He graduated with a bachelor's degree in commerce, economics, and accountancy from the Sydenham College of Commerce and Economics, Bombay University. He is a CA certified by the Institute of Chartered Accountants of India and a company secretary accredited by the Institute of Company Secretaries of India.

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