K Ramamurthy Named Vysya Bank Chairman

Former Corporation Bank chairman and managing director K Ramamurthy will be the new chairman of Vysya Bank Ltd, the countrys largest private sector bank. Ramamurthy will take charge tomorrow.

Ramamurthy is the first chairman of the bank with a non-Vysya background. He takes over at a time when the bank is in the midst of globalisation in a pact collaboration with Bank Brussels Lambert (BBL).

Having served the Mangalore-based Corporation bank as CMD for almost 8 years, Ramamurthy left the Bank in bitterness as the Union government refused to extend his term. He has another three-and-a-half years left to attain superannuation and was tipped to be appointed as Canara Bank CMD until the central vigilance commission spoiled his chances with an adverse report.

 

Ramamurthy did not reveal his plans till his last day at Corpora-tion Bank hoping that the RBI would prevail over the finance ministry to keep him in the public sector.