IndusInd Bank names Viral Damania CFO amid leadership transition

IndusInd Bank has appointed Viral Damania as CFO and KMP with effect from September 22, while Santosh Kumar will continue as Deputy CFO after ceasing additional duties

IndusInd Bank on Monday announced the appointment of Viral Damania as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective September 22. With this appointment, the additional responsibilities of Santosh Kumar — who was elevated as Special Officer-Finance & Accounts and designated as KMP on April 18 — will cease immediately. Kumar, however, will continue as the Deputy CFO of the bank.

 

Damania brings 27 years of experience in banking and was most recently the CFO of Bank of America’s India branch. He has also worked with Citibank North America, BofA Securities India, and Citibank N.A. across India, Bangladesh and Sri Lanka, as well as with Price Waterhouse Coopers. A qualified Chartered Accountant, Company Secretary and Cost & Works Accountant, he also holds an ISACA certification in Information Systems Audit and Control. 

   

In August, Rajeev Anand took over as the Managing Director and Chief Executive Officer (MD&CEO) of the bank for a period of three years. Anand’s appointment followed the resignation of Sumant Kathpalia, former MD&CEO, in April, when he stepped down taking moral responsibility for accounting lapses at the bank. Additionally, former Deputy CEO Arun Khuran had also stepped down in April over the same issue.