Mumbai: Shailendra Bhandari, who resigned as the head of Tata Capital Private Equity earlier this month, is expected to head ING Vysya Bank Ltd, said a person familiar with the development. He declined to be named. Bhandari’s last day at Tata Capital Private Equity is 9 July. Bhandari, who has earlier served as the managing director and chief executive officer of Centurion Bank of Punjab at the time of its merger with HDFC Bank Ltd, takes over after Vaughn Richter, the former chief executive officer of ING Vysya Bank, retired in April.
“Bhandari has been one of the many banking chiefs ING has been talking for sometime now. He is expected to move to the bank as managing director and chief executive officer,” said at least two people from the banking industry, on condition of anonymity. An ING Vysya Bank spokesperson said,“The appointment of the new chief executive officer at ING Vysya Bank is one of our top priority and the process is well underway and advancing satisfactorily. There has been enough speculation in the media about who the new chief executive officer of the bank might be, but out of respect for their privacy we will not divulge their identity nor confirm on any rumoured names.” Bhandari could not be reached for comment.