Change of guard at public banks

ne March 25, 2006

C P Swarnkar, executive director of Punjab National Bank, is set to take over as the chairman and managing director of Syndicate Bank.

The present CMD N Kanthakumar is retiring on March 31. The board of the bank has approved the new appointment.

In another development, Prakash P Mallya, executive director of Syndicate Bank, will take over as chairman and managing director of Vijaya Bank on April 1, replacing the present CMD M S Kapur. Mallya has been with the Syndicate Bank for only nine months.

Besides the new heads of the Bangalore-based Vijaya Bank and the Manipal-headquartered Syndicate Bank, the government has also identified the successor of VK Chopra, CMD of the Mangalore-based Corporation Bank, who will also retire on March 31.

Indian Bank executive director B Sambamurthty will take over as CMD of Corporation Bank. Another bank chief who will retire on March 31 is Union bank