Shyam Srinivasan retires as CEO and MD: A legacy of 14 years at Federal Bank

• Shyam Srinivasan, the legendary MD and CEO of Federal Bank, retired after an epic 14-year journey.
• Since taking the helm on September 23, 2010, he has turned Federal Bank from a regional contender into a nationally recognized powerhouse!
• KVS Manian, former Joint Managing Director at Kotak Mahindra Bank takes Federal Bank into its next exciting chapter.

Shyam Srinivasan’s 14-year journey at Federal Bank

Career before joining Federal Bank

Shyam Srinivasan joined Citi Bank in its early years in the ’90s.

He worked in numerous roles until leaving the organization in August 2001 as the VP & Chief Operating Officer of the consumer banking wing.

Srinivasan served on the Global Executive Forum of Standard Chartered Bank from 2004 to 2010 before making his mark at Federal Bank as CEO and MD

Also read: Not age but irrelevance is the new retirement! Aseem Dhru on Deloitte’s new ‘Golden Handshake’ program

Transforming Federal Bank

Srinivasan took charge as the Managing Director & CEO of Federal Bank Ltd, a major private commercial bank in India.

Since taking the helm at Federal Bank on 23rd September 2010,

• Transformed it from a regional player into a nationally recognized brand
• Gained substantial market share and mindshare, solidifying its position as a key player in India’s banking industry
• Led initiatives in digitization, network expansion, and improved underwriting processes, all contributing to the bank’s growth
• Bank lowered the average workforce age from the 40s to the 30s and significantly enhanced diversity, with women now making up 43% of the workforce.

A farewell like no other

It’s safe to say that his retirement has stirred more than a few emotions across the organization.

Chief Marketing Officer of Federal Bank, M.V.S. Murthy’s LinkedIn tribute captured the essence of Srinivasan’s leadership.

Murthy recalled Shyam’s warm invitation to all employees,

“Our home in Chennai is Federal Bank Tharvad, and everyone is welcome,” reminding them of the incredible sense of community that Shyam had fostered during his tenure.

Also read: Sanjiv Mehta, Former MD & CEO of Hindustan Unilever is a CA. He Leaves a Legacy of Ambition for CAs.

Federal Bank’s new CEO?

KV Subramanian, the former Joint Managing Director at the Kotak Mahindra Bank Ltd is set to assume the role of Managing Director and Chief Executive Officer at Federal Bank.

The RBI has approved the appointment of Krishnan Venkat Subramanian as the Managing Director & CEO of the Bank for 3 years, with effect from September 23, 2024.

About Federal Bank

Federal Bank Limited is a private-sector bank based in Aluva, Kerala, India.

The Bank was incorporated on April 23, 1931, as the Travancore Federal Bank Limited

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: KV Subramanian

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