The Reserve Bank of India has approved Ashok Vaswani as the incoming Management Director and Chief Executive Officer (MD and CEO) of Kotak Mahindra Bank, find out more about him along with his net worth and education
Ashok will assume his new role for a period of three years starting from the date of his taking charge which comes latest by January 1, 2024.
Who is Ashok Vaswani CEO of Kotak Mahindra Bank, biography, age, education, profile, net worth
I am delighted that the RBI has approved our recommendation, Ashok Vaswani,as the next CEO of Kotak Mahindra Bank. Ashok is a world class leader and banker with digital and customer focus . I am proud that we bring a โGlobal Indianโ home to build Kotak and India of tomorrow.
— Uday Kotak (@udaykotak) October 21, 2023
Congratulating Ashok Vaswani, an international banking veteran, on RBI approving his appointment as Kotak Mahindra Bankโs next MD & CEO.#KotakMahindraBank pic.twitter.com/DMx5QzFWOl
— Kotak Mahindra Bank (@KotakBankLtd) October 21, 2023
Following the decision, Ashok Vaswani will replace the outgoing Uday Kotak after he resigned following 21 years of service.
Ashok Vaswani appointed as new CEO and MD of Kotak Mahindra Bank
Uday Kotak, the founder and chairperson of Kotak Mahindra Bank congratulated Ashok on his new appointment and stated:
I am delighted that the RBI has approved our recommendation, Ashok Vaswani, as the next MD & CEO of Kotak Mahindra Bank. Ashok is a world-class leader and banker with a digital and customer focus. I am proud that we bring a โGlobal Indianโ home to build Kotak and India of tomorrow.โ
Meanwhile, Vaswani thanked the board for choosing to entrust him with the role of leading Kotak Mahindra Bank. He stated:
I am excited and honoured to carry forward the legacy of Uday who has built this world-class institution.โ
He ensured that he and his team would take the Bank to new heights and that the bank plays a meaningful role in Indiaโs journey to become one of the top three economies worldwide in the next five years.
Ashok Vaswani bio and career
Ashok Vaswani is a top Indian banker who was born in Mumbai and currently based in New York but his DOB isn’t known. He has so far been a career banker for the last three-and-a-half decades. Vaswani started out working at Citigroup around June 1999, where he helped build and grow various global businesses at scale. During his time with Citigroup, he also served as the CEO of Citigroup Asia Pacific as well as a Member of the Citigroup Global Operating and Management Committees.
After spending 8 years with Citibank, he joined Barclays Bank in the UK where he was eventually appointed as CEO of their Global Consumer, Private, Corporate and Payments businesses. He was also a Member of the Group Executive Committee. He served there for over a decade from February 2010 to July 2022. Ashok Vaswani is currently the President of Pagaya Technologies Ltd, which is a US-Israeli AI Fintech company. He is also a board member of the London Stock Exchange Group as well as the SP Jain Institute of Global Management, in UK for the past 2 and a half year.
He is married and has a daughter who works in San Francisco, USA.
Ashok Vaswani education
Ashok Vaswani attended the Sydenham College of Commerce and Economics (Bombay University) and graduated with a Bachelorโs degree in Commerce, Economics and Accountancy. He is also a qualified CA and a part of the Executive Education programme under Stanford Universityโs Graduate School of Business.
Net worth
In 2018, Ashok Vaswani received 548,538 shares of Barclays Group valued at 975,000 pounds and in 2016, Vaswani received 1.09 million Barclays shares worth 1.8 million pounds at the time as part of his compensation package as CEO of Barclays UK, the Financial Times reported.
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