BOB searches heads for finance, risk management

The Mumbai-based lender has tapped private and foreign banks to appoint professionals for various functions, including digital and retail banking

Government-owned Bank of Baroda  has begun a hunt in the market for talent to head its finance and risk management functions.

Senior BoB executives said like most public sector banks, it is also facing a talent crunch at senior and middle levels, due to large-scale retirements. This comes at a time of deterioration in asset quality and subdued business growth.

P Jayakumar took charge as managing director and chief executive in October 2015. He had commenced a review of personnel requirements and skill gaps building up over the next few quarters.

BoB is inducting talent from the market and retaining key retiring officials as advisors for a short-term stint, an official said. As many as 38 are expected to retire over 2016.

Jayakumar had told this newspaper early this year that BoB was working on alternatives.

It is now scanning for top managers to join as a chief financial officer and a chief risk officer.