Federal Bank has elevated its Group President and Chief Financial Officer, Venkatraman Venkateswaran, to the position of Executive Director, following approval from the Reserve Bank of India.
The appointment, for a three-year term beginning July 10, will first see Venkateswaran assume charge as Additional Executive Director, subject to shareholder approval at the upcoming Annual General Meeting or within three months, whichever is earlier, according to an official statement.
A Chartered Accountant with over 33 years of professional experience, Venkateswaran joined Federal Bank in April 2021 as Group President.
In its official statement, the bank credited him with demonstrating strong leadership and steering several transformative initiatives that enhanced revenues, brought down operational costs, and significantly improved customer experience.
His elevation, the bank said in a regulatory filing, aligns with its broader strategic roadmap and acknowledges his deep expertise in financial management and banking operations.
During his tenure, Venkateswaran has overseen a wide range of critical functions, including financial reporting and taxation, credit administration, loan recovery, and daily operations.
He has also contributed to the bank’s corporate social responsibility efforts, played an active role in investor relations and corporate planning, and led the development of analytics and management information systems. In addition, he has supervised Federal Bank’s IT infrastructure and provided strategic oversight to FedServ, the bank’s wholly owned subsidiary.
Venkateswaran began his career in the manufacturing sector, where he spent over a decade before transitioning into the financial services industry. He went on to hold senior positions at Standard Chartered Bank and HSBC before joining Federal Bank.
The bank, in its release, has also confirmed that he has no familial ties with any other director and is not disqualified by any regulatory body from holding his new position.
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