SBI goes for a major reshuffle of top brass

Portfolios of all 4 MDs have been reshuffled. Ashwini Kumar Bhatia, MD (Corporate Banking and Global Market), has superannuated from SBI on May 31 and has taken over as the whole-time director at the capital markets regulator, Sebi. Alok Kumar Choudhary, DMD (Finance) had been inducted as the fourth MD of SBI in place of Bhatia

Mumbai: In order to make India's largest lender more agile and competitive in the banking industry, Dinesh Kumar Khara, Chairman, State Bank of India (SBI), has undertaken a major reshuffle among the top management, reliable sources at SBI told Bizz Buzz. The portfolios of all four Managing Directors have been reshuffled. Ashwini Kumar Bhatia, Managing Director (Corporate Banking and Global Market), has superannuated from SBI on May 31 and has taken over as the whole-time director at the capital markets regulator SEBI. Alok Kumar Choudhary, Deputy Managing Director (Finance) had been inducted as the fourth MD of SBI in place of Bhatia.

SC Setty, who had been looking after the area of Retail Business & Digital Banking until now, has been made MD (International Banking, Global Markets & Technology). Another MD, J Swaminathan will now be looking after Corporate Banking (CAG & CCG and Subsidiaries).

Ashwini Kumar Tewari, MD (IB, T&S) will now be heading Risk, Compliance and Stressed Asset Resolution Group. Choudhary, who assumed his office as the new MD, has been given the charge of Retail Business & Operations.

PC Kandapal, who is the MD and CEO of SBI General, has been posted as DMD (P&RE) at the corporate office of SBI. Paritosh Tripathi, GM (IBG) has been elevated as CGM and posted as MD & CEO, SBI General Insurance. Saloni Narayan, DMD (RB) has been shifted to DMD (Finance). Amitabh Chatterjee, who had been working as CGM and heading the Delhi circle of SBI, will now be working as the MD and CEO at SBI Capital Markets. He will be replacing Arun Mehta who is on the verge of retirement. B Sankar, who was working as CGM (SME) until now, has been elevated as DMD and posted as DMD & COO. Pravin Raghavendra, who was working as CGM (Mumbai Metro Circle) until now, has been promoted as DMD and posted as DMD (Agri, SME and Financial Inclusion). He has replaced S Salee who has been made Chief Credit Officer. SS Rao has been posted as Chief Risk Officer. Vidya Krishnan, CGM, Bhubaneshwar Circle has been elevated as DMD and posted as DMD & CIO.

There are two DMDs whose new postings are yet to be made. They include Ruma Dey (who is currently heading Kolkata circle) and Gulshan Malik (who is currently looking after project finance, strategic business unit).

SBI has also promoted market recruited executives who have been associated with the subsidiaries of the bank for quite some time. Anand Pejawar has been transferred from SBI Life on promotion to assume the charge as the DMD at SBI General Insurance. DP Singh, the chief distribution officer at SBI Mutual Fund, has been promoted as deputy managing director at the same office.