RBL Bank on Saturday announced the appointment of veteran banker R Subramaniakumar as its new managing director and chief executive officer for a period of three years, the private lender informed the stock exchanges.
Subramaniakumar is the former head of business transformation at Punjab National Bank and has previously served as administrator of Dewan Housing Financial Corporation Limited (DHFL).
The statement said Subramaniakumar has 40 years of experience, which includes a stint as Executive Director at Indian Bank and Indian Overseas Bank, Managing Director & CEO of Indian Overseas Bank and an Independent Director of the UC Pension Fund Limited.
“The board of directors has approved the appointment of R Subramaniakumar as Managing Director & CEO of the bank for a period of three years with effect from date of his taking charge, under Section 35B of the Banking Regulation Act 1949,” it said.
The announcement comes nearly six months after RBL Bank’s long-term MD & CEO Vishwavir Ahuja had stepped down.