Federal Bank appoints Krishnan Venkat Subramanian as MD & CEO; stock rise 5%

Confirming the development in an exchange filing, Federal Bank said, “We wish to inform you that, based on our application made to the Reserve Bank of India (RBI) on May 06, 2024, for its approval for the new Managing Director & Chief Executive Officer of the Bank, the RBI has, vide its letter dated July 22, 2024, approved the appointment of Mr Krishnan Venkat Subramanian as the Managing Director & Chief Executive Officer of the Bank under Section 35B of the Banking Regulation Act, 2013, for a period of 3 (three) years, with effect from September 23, 2024 after the expiry of the term of the current Managing Director & CEO on September 22, 2024.”

Subramanian served as the joint managing director of Kotak Mahindra Bank till April 30, 2024. He led corporate banking, commercial banking, private banking, and asset reconstruction of the lender. He played a key role in improving the technology and developing strong transaction banking capabilities. Subramanian also oversaw investment banking and institutional equities, maintaining leadership positions in these sectors.

He spearheaded the establishment of the consumer bank, playing a pivotal role in its development and growth from 2003 to 2014. His earlier experience includes roles in NBFC (then Kotak Mahindra Finance Ltd) and investment banking.

Subramanian holds a degree in electrical engineering from the Indian Institute of Technology (BHU), a postgraduate degree in financial management from Jamnalal Bajaj Institute of Management Studies in Mumbai, and is a cost and works accountant.

Federal Bank Ltd shares trade 2.7% higher at ₹198.1 apiece on NSE at 11:30 am.