The government has appointed S S Mundra as the chairman and managing director of Bank of Baroda, the country's second largest lender. Prior joining to this appointment, he the executive director of Union Bank of India.
This will be Mundra's second stint with the bank. He had joined Bank of Baroda in 1977 and was there till 2008 as general manager heading European operations of the bank. He was elevated as executive director in Union Bank of India thereafter. He will be heading Bank of Baroda till July 2014. The top post in the bank fell vacant following superannuation of MD Mallya in November.
K Subrahmanyam, general manager, Indian Overseas Bank, has been now appointed as executive director of the Union Bank of India.