Private sector Federal Bank on Friday said the RBI has approved the re-appointment of Shyam Srinivasan as managing director and chief executive officer of the bank for a period of three years with effect from September 23, 2021, till September 22, 2024.
"We wish to inform you that the approval from Reserve Bank of India has been received on July 09, 2021 for the re-appointment of Mr. Shyam Srinivasan as the MD & CEO of the Bank for a period of three years with effect from September 23, 2021 till September 22, 2024," the bank said in a regulatory filing.
Srinivasan took charge as MD and CEO of the bank on September 23, 2010.
He had joined the bank, equipped with the experience of over 20 years with leading multinational banks in India, the Middle East and Southeast Asia. He has significant expertise in retail lending, wealth management and small and medium enterprises (SME) banking.
He is an alumnus of the Indian Institute of Management, Kolkata, and Regional Engineering College, Tiruchirapally.
Shares of Federal Bank ended at Rs 85.65 apiece, down Rs 0.40, or 0.46 percent on the BSE.