Mumbai, 21st October 2023: Kotak Mahindra Bank (‘Kotak’ or ‘the Bank’) today announced that the
Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as the Bank’s next
Managing Director & Chief Executive Officer (MD & CEO). This is for a period of three years from date
of taking charge which shall not be later than January 1, 2024. The appointment is subject to
shareholders’ approval.
Prakash Apte, Chairman of Kotak Mahindra Bank said, “We are pleased to announce that RBI has
approved the appointment of Ashok Vaswani as the next MD & CEO of Kotak Mahindra Bank. Ashok
is a global banking leader with a proven track record of building and growing businesses at an
international scale and has successfully steered organisations to greater heights. We are confident
that Ashok will accelerate change and drive growth at Kotak.
Dipak Gupta, Managing Director & CEO, Kotak Mahindra Bank said “We welcome Ashok to the Kotak
family. Ashok brings with him values and experience that align with Kotak’s vision to transform into a
tech-enabled, customer centric financial institution for the future. “
Uday Kotak, Founder and Director, Kotak Mahindra Bank said “I am delighted that the RBI has
approved our recommendation, Ashok Vaswani, as the next MD & CEO of Kotak Mahindra Bank. Ashok
is a world class leader and banker with digital and customer focus. I am proud that we bring a “Global
Indian” home to build Kotak and India of tomorrow.”
Ashok Vaswani said, “I thank the Board for entrusting me with the responsibility of leading Kotak
Mahindra Bank’s journey to the next phase of growth. I am excited and honoured to carry forward the
legacy of Uday who has built this world-class institution. With our proven leadership team we will take
the Bank to new heights. We will ensure that Kotak Mahindra Bank plays a meaningful role in India’s
journey to being one of the top 3 economies in the world in the next 5 years, delivering shareholder
value. At a personal level, l am delighted to come back home
