BackIttira Davis to be appointed MD & CEO of Ujjivan Small Finance Bank
The appointment is subject to the approval of the members of the Bank and Reserve Bank of India
PremiumUjjivan Small Finance Bank today appointed Ittira Davis as managing director (MD) and chief executive officer (CEO) of the bank for a period of three years.
The appointment is subject to the approval of the members of the Bank and Reserve Bank of India (RBI).
The Bank also approved the notice to postal ballot to approve the appointment and remuneration of Ittira Davis as MD and CEO. The members will also decide on approving the payment of performance cash bonus to Nitin Chugh for FY20.
Ittira Davis has been with Ujjivan since 2015 and was previously CEO of Ujjivan Financial Services. His appointment as Director (Executive) will be for a period co-terminus with his tenure as MD and CEO.
Davis has a Post Graduate Diploma in Management from Indian Institute of Management-Ahmedabad (IIM-A) and is an international banker with over 40 years of banking experience. He worked extensively in India, Middle East and Europe.
He was with the Europe Arab Bank from July 2008 to October 2012 initially as the Managing Director – Corporate and Institutional Banking and then as an Executive Director.
Davis has also previously worked with Citibank in India and the Arab Bank Group in the Middle East and has been associated with Ujjivan since 2015. He played a pivotal role in its transition into a Small Finance Bank.
Later, he was the Chief Operating Officer of the Bank until June 2018. Ittira Davis was the MD & CEO of Ujjivan Financial Services Limited from July 2018 and has resigned from the position in March.
Nitin Chugh, the previous managing director and chief executive officer of Ujjivan Small Finance Bank has resigned from his position citing personal reasons with effect from 30 September. Chugh was appointed as the MD & CEO of the bank with effect from December 1, 2019, for a period of three years.
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