The RBL Bank had announced the appointment of veteran banker R Subramaniakumar as its new managing director (MD) and chief executive officer CEO after receiving a nod from the Reserve Bank of India (RBI).
Subramaniakumar has replaced the bank’s former MD and CEO, Vishwavir Ahuja, who turned around the old private sector bank and also presided over its fall from grace. Following Ahuja’s exit, Rajeev Ahuja was appointed to helm the lender as an interim CEO until June 24.
“The board of directors has approved the appointment of R Subramaniakumar as Managing Director & CEO of the bank for a period of three years with effect from date of his taking charge, under Section 35B of the Banking Regulation Act 1949,” the lender said in a statement.
Prakash Chandra, Chairman of the Board, while welcoming Subramaniakumar, said, "A veteran in the industry, his experience and support will further strengthen our organisation. I am confident that his leadership will present an opportunity for us to reinvent and unlock the immense potential of the Bank.”
Who is R Subramaniakumar?
Subramaniakumar, whose appointment came nearly six months after RBL Bank’s long-term MD and CEO Vishwavir Ahuja had stepped down In December 2021, has been appointed to helm RBL for three years from the date of taking charge.
Subramaniakumar, who has an experience of more than 40 years in the banking industry, was also the RBI-appointed administrator for failed Dewan Housing Finance Ltd.
Earlier, he has also worked as the former managing director and chief executive director of the state-run Indian Overseas Bank. Subramaniakumar was also an executive director at Indian Bank.
Subramaniakumar’s career started with Punjab National Bank in 1980, where he worked for 35 years and eventually rose as the head of the business transformation, especially in digital, human resources, MSME, retail, and overseas operations. Interestingly, he also has experience being an independent director of the Life Insurance Corporation of India’s (LIC) Pension Fund Limited.
Subramaniakumar is a Physics graduate with a post-graduate diploma in computer application (PGDCA) and has acquired Certified information system audit (CISA) and Certified information security manager (CISM) from ISACA, USA. He also holds an advanced banking certificate from the University of Maryland, USA.
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