Private sector lender, Federal Bank wants to have Shyam Srinivasan as the new CEO and MD of the bank and is awaiting a nod from the banking regulator, Reserve Bank of India in this regard.
Srinivasan is currently appointed as the country manager for consumer business with Standard Chartered Bank.
"Nothing has finalised yet. Three names have been empaneled for the post of CEO by the bank's board. Srinivasan is one of the those three. The board sent the list to RBI last week. Though the bank might be prefering Srinivasan, but ultimately it is RBI's prerogative to take a call on that," said a person familiar with the development.
With the current CEO and MD of Federal Bank, M Venugopalan retiring from his post on 31st July, a vacancy would be created for the post with the bank.
G Bharadhwaj has been appointed as the head of personal finance services of HSBC India.
In yet another corporate announcement, Indian Bank has announced the appointment of MS Sundarrajan, former CMD of Indian Bank, as member of the board of Axis Bank.