Kotak Mahindra appoints Eli Leenaars as additional and independent director

With 35 years of experience in the financial sector, Eli Leenaars' new appointment will take effect from January 1, 2024

The Board of Directors of Kotak Mahindra Bank Limited appointed Eli Leenaars as an additional director and an independent director of the bank for a period of four years, with effect from January 1, 2024, the company said in a BSE filing.

With over 35 years of extensive experience in the financial services sector, Leenaars has experience in managing businesses through a wide range of matters, including mergers and acquisitions, complex corporate restructurings, strategic initiatives, and challenging financial environments.

The company, in the BSE filing, stated, "Leenaars enjoyed a 24-year career (since 1991) at ING Group NV, a Dutch multinational banking and financial services company, and various of its subsidiaries and held numerous key management positions, including as chairman of ING Poland (1997-1999), chairman and chief executive officer (CEO) of ING Latin America (1999-2002), and chairman and chief executive officer (CEO) of ING Central & Eastern Europe (2003-2004)."

From 2004 to 2015, Leenaars was a member of ING's Executive Board, handling ING's global retail and private banking operations, and group technology and operations. From 2010 to 2015, Leenaars served as the chief executive officer (CEO) of ING Direct NV, which pioneered the national direct deposit platform in the US.

The company stated that Leenaars also served as the CEO of ING Retail Banking Direct and International for ING from 2010 to 2015, where he managed retail banking and private banking.

"After his tenure at the ING, Leenaars served as the group managing director and vice-chairman of the Global Wealth Management Division at UBS Group AG, a Swiss multinational investment bank and financial services company, from April 2015 to May 2021 based in Zurich," the company's statement read.

From June 2021, Leenaars was the group chief operating officer of Quintet Private Bank, a Luxembourg- headquartered bank.

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