Kotak Mahindra Bank's Deputy MD Shanti Ekambaram to retire in October

Kotak Mahindra Bank’s Deputy Managing Director (MD) and a Director on the bank's board, Shanti Ekambaram, will retire from her position at the end of her current term on October 31, the bank disclosed to the exchanges on Saturday.

 

“After deep reflection and with a heart full of gratitude, I wish to formally inform you of my decision to retire from my role as a director and deputy MD on the board of Kotak Mahindra Bank, effective upon the completion of my current term on October 31, 2025,” Ekambaram wrote in the letter to the board of the bank.

 

  Meanwhile, the bank also disclosed that Paritosh Kashyap, Group president and business head –Wholesale Banking Group, will be appointed as the whole-time director (executive director) and key managerial personnel, subject to regulatory approvals.

 

In her current role, Ekambaram was responsible for the growth of Kotak 811, treasury and global markets businesses, among other things. Prior to this, Ekambaram served as whole-time director from May 2022 till February 2024 and led the consumer banking business at Kotak Mahindra Bank from April 2014 to May 2022.

 

Ekambaram has been with the Kotak group since 1991, and has played a pivotal role in shaping the group’s growth and evolution of the institution over the past three decades. She successfully set up and scaled several business units, including the consumer bank, corporate and investment banking.

 

“She has led several of the Group’s most strategic businesses, including investment banking, capital markets, corporate banking, treasury, 811 and consumer banking," the bank said in a statement.

  Before joining Kotak Mahindra Group, Ekambaram had a short stint with Bank of Nova Scotia - the Canadian international bank, in their corporate banking and treasury division. Shanti graduated with a Commerce degree from Sydenham College, University of Mumbai.

 

"Shanti has been a cornerstone of Kotak’s journey. Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions and an unwavering commitment to excellence,” said Ashok Vaswani, MD & CEO, Kotak Mahindra Bank.

 

“It has been an extraordinary privilege to serve the Kotak Group for over three decades, across diverse roles and phases of its evolution. As I prepare to step away, I remain fully committed to supporting a smooth and seamless transition,” Ekambaram said.

 

(Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)