Rajnish Kumar takes over as fourth MD of SBI

Kumar will be looking after a new departmentcompliance and risk

PTI
Published26 May 2015, 07:10 PM IST
Photo: Pradeep Gaur/Mint<br />
Photo: Pradeep Gaur/Mint

Mumbai: Country’s largest lender State Bank of India on Tuesday said the government has appointed Rajnish Kumar as the managing director—compliance and risk department.

The post was lying vacant since November last year after the then MD A. Krishna Kumar retired. “In my new assignment, I will be looking after a new department—compliance and risk, which has been created for the first time by the bank. My focus will be on technology upgradation and providing skill development,” he said.

Prior to this, Kumar was managing director and chief executive officer (CEO) of SBI Capital Market (SBI Caps). The other three serving MDs at SBI are Pradeep Kumar (Corporate Banking Group), B. Sriram (National Banking Group) and V.G. Kannan (Associates and Subsidiaries).

For the post of fourth MD, four deputy managing directors of SBI group had appeared for interviews in December last year. Apart from Kumar, those who had appeared for the interview include Praveen Kumar Gupta, SBI’s chief financial officer, N.K. Chari, head of medium corporate group at SBI, and S.A. Ramesh Rangan, MD at State Bank of Patiala.

It could be noted that the current SBI chairman Arundhati Bhattacharya has also served as the MD and CEO of SBI Caps in past. Even the two former MDs—R. Shreedharan, S. Viswanathan and one serving MD—V.G. Kannan had also come from SBI Caps. Both Kumar and Sriram will also be contenders for the post of SBI chairman on the retirement Bhattacharya in October next year. While Pradeep Kumar retires in October this year, Kannan’s retirement is due in July next year.

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First Published:26 May 2015, 07:10 PM IST
HomeCompaniesPeopleRajnish Kumar takes over as fourth MD of SBI

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