EY in India announced the appointment of NS Vishwanathan, former Deputy Governor of Reserve Bank of India (RBI), and Nandkumar Saravade, the former founding CEO of Reserve Bank Information Technology Pvt Ltd (ReBIT) as Advisors in the Financial Services practice.
With the fast-evolving regulatory landscape and ever-increasing technology risks in Financial Services, in these newly appointed roles, Vishwanathan will help strengthen EY’s regulatory counsel while Saravade will solidify the firm’s Forensics and Cyber Security practice.
Vishwanathan joins EY with over four decades experience with wide-ranging exposure in core central banking and administrative functions, including a foreign central bank. At RBI, he was instrumental in setting up the enforcement department to speed up regulatory compliance and was also a member of the expert committee on economic capital framework.
He has represented RBI in numerous international and domestic committees, notably the Basel Committee on Banking Supervision, Financial Stability Board, International Credit Union Regulator’s Network, the Banks Board Bureau (BBB), Institute for Development and Research in Banking Technology (IDRBT), etc. He was a non-executive member of the Board of Directors at the Securities and Exchange Board of India (SEBI), the Punjab and Sind Bank, Dena Bank (now merged with Bank of Baroda) and the Punjab National Bank.
Vishwanathan is currently a Sr. Fellow at Centre for Public Policy at the Indian Institute of Management (IIM), Bangalore.
Saravade brings 37 years of diverse experience, including in law enforcement, banking, cybersecurity, and technology management. He led in creating ReBIT as a powerhouse for RBI in IT services and cyber security, as well as a think-tank for innovation, big systems, and new ideas with focus on IT strategy for creating public goods and regulation. He was also instrumental in building its capability to drive what needs to be done in the IT/cyber security area of regulated entities’ operations, as well as RBI’s own IT and security related functions and initiatives. He was a member of the Malegam Committee, set up by RBI to look into NPA divergences and bank frauds.
He has also worked in different capacities at Citibank, ICICI Bank and with think-tanks such as the Data Security Council of India (DSCI). Prior to joining the private sector, he served in the 1987 batch of the Indian Police Service (IPS) including working with the Central Bureau of Investigation (CBI) primarily handling bank frauds and economic offences. He is a recipient of the Indian Police Service Medal for Distinguished Services and the Prime Minister’s Baton and Revolver for being the topper of the 1987-batch of IPS officers.
On these appointments, Abizer Diwanji, Partner and Financial Services Leader, EY, said, “EY has a strong sector-focused approach to providing strategic counsel to our clients. It is our constant endeavour to help them to evaluate risks and opportunities in a volatile business environment. Both, Mr. Vishwanathan and Mr. Saravade bring dynamic leadership and counsel in this direction. With their rich experience in the regulatory ecosystem, they will play an integral role in enabling long-term value creation for our clients.”
Over the last year, EY’s Financial Services practice has attained 71 new Partners and Associate Partners through promotions and external appointments in specialised areas to deliver on growing client demands.