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| Shailendra Bhandari is new MD, CEO of ING Vysya Bank |
| BS Reporter / Bangalore Aug 05, 2009, 20:23 IST |
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ING Vysya Bank today announced the appointment of Shailendra Bhandari, 51, as managing director and chief executive officer of ING Vysya Bank, following Reserve Bank of India’s approval this week. A decision to this effect was taken at the bank's board meeting, here today.
Bhandari takes charge of the bank at close of business on August 6, 2009 and will be based in Bangalore. He was most recently head of private equity at Tata Capital, a private equity start-up to build a new business franchise for the Tata Group.
Prior to that, Bhandari was Centurion Bank of Punjab’s managing director and CEO from February 2004 to June 2008, where he was credited with achieving a turnaround with an impressive growth in a relatively short four-year period.
He led Centurion through three mergers, starting with the Bank of Punjab in 2005, followed by the takeover of Lord Krishna Bank in 2006, and finally its merger by HDFC Bank in 2008.
Welcoming the new CEO on board, ING Vysya Bank Chairman K R Ramamoorthy said: “Shailendra is highly respected within the banking community and his impressive credentials over 27 years in the industry speaks for itself. He brings to the table extensive experience and a proven track record of growing businesses and creating shareholder value. My fellow directors and I are confident the bank is well-positioned to unleash its tremendous potential for growth.”
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