Chennai: Public sector Indian Overseas Bank on Tuesday said that executive director R. Subramaniakumar has been elevated to the post of managing director and chief executive officer with immediate effect.

Consequent to the notification issued by the finance ministry, Subramaniakumar has taken charge as managing director and CEO of Indian Overseas Bank, the Chennai-headquartered bank said in a release. Subramaniakumar joined the bank as its executive director in September 2016. Prior to joining the bank, he had served in various capacities at Punjab National Bank in his over three-decade career, the release said.