Kotak Mahindra Bank announced the appointments of Vyomesh Kapasi as the new Head of Products – Consumer Bank at Kotak Mahindra Bank and Shahrukh Todiwala as the new MD & CEO of Kotak Mahindra Prime Limited (KMPL).
Announcing the changes, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank Ltd, said, “These appointments underscore the deep bench strength at Kotak and our commitment to fostering leadership talent.” He added, “Vyomesh’s experience and a proven track record in driving growth and innovation will be invaluable as we continue to enhance our consumer products.”
Also Read: Uday Kotak warns Indian banking’s Goldilocks period is over
Kotak Mahindra Bank’s leadership changes
“Shahrukh’s deep understanding of the vehicle financing market will ensure that KMPL continues to thrive and deliver exceptional value to our clients and stakeholders,” said Vaswani. “Vyomesh joins Kotak Mahindra Bank from KMPL, where he served as the MD & CEO. With over three decades of experience in the financial sector, Vyomesh brings a wealth of knowledge and expertise to his new role,” said Kotak.
Shahrukh Todiwala takes over from Vyomesh Kapasi as Kotak Mahindra Prime’s new MD & CEO. Shahrukh has been with KMPL since 1995 and currently heads the Wholesale and Retail vehicle finance businesses at KMPL. He has played a key role in the company’s strategic initiatives and understands the vehicle financing market.
Established in 1985, Kotak Mahindra Group is one of the country’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company (NBFC) in India to convert into a bank – Kotak Mahindra Bank.
The private lender has four units—Consumer Banking, Corporate Banking, Commercial Banking, and Treasury—that cater to retail and corporate customers in urban and rural India. On Thursday, shares of Kotak Mahindra Bank settled 0.73 per cent lower at ₹1,970.45 apiece on the BSE.
