IndusInd Bank on October 31 announced that its board has finalized the name of the next Managing Director and Chief Executive Officer. Current MD & CEO Romesh Sobti, who joined the bank in February 2008, will retire in March 2020, when he turns 70.
The bank has submitted an application to the Reserve Bank of India (RBI), seeking approval for the appointment of the next Managing Director and Chief Executive Officer, On receipt of the RBI approval, the bank will duly make the requisite disclosures to the stock exchanges,” Bank added.
According to Media reports, Bank is likely to name Sumant Kathpalia as the new MD & CEO. Mr. Kathpalia is currently holding a position as Country Head – Consumer Bank at IndusInd Bank. Mr. Kathpalia is A qualified Chartered Accountant, he has over 20 years of rich experience in banking, having worked with prestigious foreign banks like Citibank N.A. and Bank of America.
Prior to joining IndusInd Bank, he was the Head – Consumer Banking at ABN AMRO Bank N.V. He has been associated with ABN AMRO Bank for 8 years. He has had a vast variety of experience in consumer banking, project management, credit cards, bancassurance, wealth management, and consumer finance.