IFCI, IIFCL get new chiefs

Santosh Nayar, former deputy managing director of SBI, was appointed as MD & CEO of IFCL in July

The government has appointed Malay Mukherjee as managing director and chief executive officer of IFCI Ltd in place of Santosh Nayar, who has now moved to India Infrastructure Finance Corporation as chairman and managing director.

Nayar, the former deputy managing director of State Bank of India, was appointed as the MD & CEO of IFCL in July.

Mukherjee (58), who was the executive director of Central Bank of India, has been given a three year period. Achal kumar Gupta, former managing director with State Bank of Patiala, will join as deputy managing director at IFCI.

Allahabad bank’s executive director Arun Tiwari may get the top job in Union Bank of India. The Mumbai-based state-run lender’s chairman and managing director’s post fell vacant after D Sarkar retired last month.

Apart from Union Bank, the top post at Andhra Bank is also lying vacant after B Prabhakar retired on 31 August.