State Bank of India completes promotion exercise, elevates 14 to Dy MD

State Bank of India has completed the promotion exercise at the top and senior management levels, and elevated 14 chief managers as deputy managing directors (DMDs). The lender has also elevated 30 general managers as chief general managers.

Given the extended lockdown, the bank extensively used its digital platform, including video conferencing, to carry out the performance review and promotion exercise, said senior bank executives.

New faces at the DMD level include Arun Mehta, who is heading SBI Capital Markets; Vinay Tonse, Prabodh Parikh, Natrajan Sundar, A K Tiwari, S Salee, Rana Ashutosh Kumar Singh and Saloni Narayan. The process of their appointments is underway.

The number of people elevated to the DMD post was higher this year, as many bankers at this level moved to head other public sector banks. Some of them were Padmaja Chunduru, as managing director of Indian Bank, Mrutunjaya Mahapatra as head of Syndicate Bank (now merged with Canara Bank), and Pallab Mahapatra, as MD and CEO of Central Bank of India.

Prashant Kumar, chief financial officer, moved to YES Bank as MD and CEO as part of the plan to salvage the ailing private bank. Further, there are many retirements scheduled in the current financial year, bankers said.

At the level below the CGM’s post, the bank promoted over 60 to the post of general manager, and over 140 as deputy general managers.