Sbi Helm To See Reshuffle In The Next Few Months

The State Bank of India (SBI) is set to see a top-level reshuffle over the next few months.

The ball was set rolling on Friday following the promotion of three chief general managers (CGM) to the posts of deputy managing directors (DMD). They are Ashok Kini, CGM (information technology), Rajendra Kakkar, CGM (Chandigarh circle) and B D Sumitra, CGM (audit and compliance).

Two DMDs and group heads posts will become vacant soon. Birendra Kumar, DMD and chief credit officer (CCO) retires by this month-end and R Sundararaman, DMD and group Executive (associates and subsidiaries) retires in May.

Two more DMD posts will fall vacant in middle of this year following the promotion of two existing DMDs to the managing directors (MD) posts.

 

S Govindarajan, managing director and group executive (national banking) and Y Radhakrishnan, MD and group executive (corporate banking) are retiring in June and July, respectively.

Their posts are likely to be filled in by A K Batra, DMD (international banking) and P N Venkatachalam, DMD (inspection and audit).

Both the DMDs have earlier headed SBI associate banks -- State Bank of Travancore and State Bank of Patiala, respectively.

SBI chairman Janki Ballabh is retiring in October. AK Purwar, managing director, State Bank of Patiala, is set to succeed him. Among the senior SBI executives only Purwar can meet the criterion of two-year residual service -- a necessary precondition to become the chairman.

Ballabh superseded six senior executives to become the chairman as none of them had two years of residual service. Purwar will also end up superseding a few senior colleagues. However, the two-year residual service condition is not applicable to the posts of MDs.