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Ujjivan Small Finance Bank (SFB) today announced that it has received RBI approval for the appointment of Ittira Davis as its Managing Director & CEO for a period of one year.

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.

"Ittira Davis is a senior banker with over 40 years of rich experience having worked extensively in India, Middle East and Europe," the company said in a filing.

"His first pivotal assignment, as the Head of Transition, was to oversee successful transformation of a micro-finance institution into a small finance bank which included accessing the capital markets with two successful IPOs," it added

An alumnus of Indian Institute of Management-Ahmedabad (IIM-A), prior to Ujjivan, Davis was the managing director with the Europe Arab Bank, London. He has also held leadership positions with Arab Bank plc, Bahrain and Citibank, India.

B A Prabhakar, Chairman of Ujjivan Small Finance Bank, said: “I am happy with Ittira coming to head Ujjivan Small Finance Bank in its transformational journey. His extensive global banking experience and familiarity with Ujjivan will enable him to successfully lead the Bank."

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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