Kerala-based Federal Bank on Monday said it received an accord from the Reserve Bank of India for the appointment of Krishnan Venkat Subramanian as its new Managing Director & Chief Executive Officer.

“We wish to inform you that, based on our application made to the Reserve Bank of India on May 06, 2024, for its approval for the new Managing Director & Chief Executive Officer,” it said in a regulatory filing.

Mr. Krishnan Venkat Subramanian will replace the current Managing Director & CEO, Mr. Shyam Srinivasan who is set to retire on September 22, 2024.

Mr. Subramanian’s appointment would be for 3 years, with effect from September 23, 2024, after the expiry of the term of the incumbent CEO.

Previous role

Mr. Subramanian was the Joint Managing Director of Kotak Mahindra Bank Limited till April 30, 2024, spearheading Corporate, Banking, Commercial Banking, Private Banking, and Asset Reconstruction business. He was also responsible for building a high quality integrated and profitable franchise across these businesses.

Mr. Subramanian is an electrical engineer from the Indian Institute of Technology (BHU) – Varanasi, a postgraduate in Financial Management from Jamnalal Bajaj Institute of Management Studies Mumbai, and a Cost and Works Accountant.