- KV Subramanian is set to assume the role of Managing Director and Chief Executive Officer at Federal Bank.
- He will officially take over, after the current MD and CEO, Shyam Srinivasan completes his tenure on September 22, 2024.
- Before joining Federal Bank, Subramanian held the position of Joint Managing Director at Kotak Mahindra Bank.
Effective date
The Reserve Bank of India (RBI) has officially approved Krishnan Venkat Subramanian, also known as KV Subramanian, as the Managing Director and CEO of Federal Bank.
His appointment marks a significant transition for the bank as he prepares to step into the role on September 23, 2024, and will continue in this position for three years.
In an exchange filing Federal Bank said, “We wish to inform you that, based on our application made to the Reserve Bank of India on May 06, 2024, for its approval for the new Managing Director & Chief Executive Officer of the Bank, the RBI has, vide its letter dated July 22, 2024, approved the appointment of Krishnan Venkat Subramanian as the Managing Director & Chief Executive Officer of the Bank for a period of 3 (three) years, with effect from September 23, 2024 after the expiry of the term of the current Managing Director & CEO on September 22, 2024,”
Who will Subramanian succeed?
Subramanian’s appointment will commence immediately after the current MD & CEO, Shyam Srinivasan, concludes his tenure on September 22, 2024.
Professional highlights
Before joining Federal Bank, Subramanian served as the Joint Managing Director of Kotak Mahindra Bank Limited.
He began his career in the non-banking financial company (NBFC) sector with Kotak Mahindra Finance Ltd and has since garnered extensive experience in Investment Banking.
During his tenure at Kotak Mahindra Bank, which ended on April 30, 2024, he led several critical divisions including Corporate Banking, Commercial Banking, Private Banking, and Asset Reconstruction.
His oversight of the Investment Banking and Institutional Equities business units contributed to their leadership positions within the industry.
Notably, he played a pivotal role in upgrading technological infrastructure and enhancing transaction banking capabilities.
Also read: Citigroup’s strategic move: 40 new Managing Directors appointed globally in the markets division.
Educational background
Subramanian boasts a strong educational background with a degree in Electrical Engineering from the Indian Institute of Technology (IIT) – Varanasi.
He acquired a Post Graduate degree in Financial Management.
Additionally, he is a qualified Cost and Works Accountant.
About Federal Bank
Federal Bank Limited is a private-sector bank based in Aluva, Kerala, India.
The bank operates an extensive network with over 1,504 banking outlets and more than 2,015 ATMs/CDMs across various states in India.
Additionally, Federal Bank maintains representative offices in Abu Dhabi and Dubai, expanding its international presence.
Revenue
For the financial year 2022-23 (FY23), Federal Bank reported a total income of ₹3,011 crore.
Employee count
Federal Bank employs a workforce of over 15,200 individuals.
Leadership
Current Managing Director & CEO: Shyam Srinivasan
Executive Director: Shalini Warrier
Chief Financial Officer: Venkatraman Venkateswaran
Chief Human Resources Officer: Rajanarayanan N
Chief Compliance Officer: Sunil Kumar K N
Chief Risk Officer: Damodaran C
Chief Internal Auditor: Sanjesh Kumar
Chief Marketing Officer: MVS Murthy
Wrapping up…
After the Federal Bank received approval from the RBI to appoint Krishnan Venkat Subramanian, their stocks skyrocketed to a record high of Rs 203.40. It marked a 5% rise on the BSE in 23rd July’s intraday trading. Since dropping to Rs 148.25 in June, the stock has experienced an impressive 37% surge.
As he prepares to take the helm at Federal Bank, Subramanian’s vast experience and proven track record are expected to guide the bank through its next phase of growth and development.
