Federal Bank stated on Monday that KVS Manian has been appointed as the bank's new Managing Director and CEO, effective September 23, 2024, following Shyam Srinivasan.

KVS Manian provides extensive knowledge and a track record of accomplishment in the banking business, according to the statement. KVS Manian resigned as joint managing director of Kotak Mahindra Bank in April, concluding his three-decade stint with the private bank. During his time at Kotak, he was instrumental in the bank's transformation from a Non-Banking Financial Company (NBFC) to one of the country's top private sector banks.

KVS Manian formerly led the corporate, institutional, and investment banking sectors, as well as wealth management. "Under his leadership, these enterprises developed a high-quality, integrated, and successful franchise. The Corporate Bank had tremendous expansion in size and profitability while retaining best-in-class asset quality. Under his leadership, the Investment Banking, Institutional Equities, and Wealth Management businesses all maintained their leading positions," according to a statement from Federal Bank.

KVS Manian is an electrical engineer from IIT (BHU) Varanasi, a Postgraduate degree in Financial Management from Jamnalal Bajaj Institute of Management Studies in Mumbai, and a certified Cost and Works Accountant.

"The Federal Bank is confident that Mr. Manian's extensive experience and visionary leadership will propel the bank to new heights of success. We cordially welcome him to the Federal Bank family and look forward to a fruitful future under his leadership," it stated.

The Reserve Bank of India approved the nomination in July, for a three-year term. The nomination will take effect on September 23, 2024, when the current Managing Director and CEO, Shyam Srinivasan,'s tenure expires on September 22, 2024, according to a Federal Bank exchange filing.