Kotak Mahindra Bank's deputy MD Shanti Ekambaram to step down on October 31

Ekambaram has been a part of the bank since 1991 and has played a key role in shaping the growth of the lender in the last three decades

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26 Aug, 2025 12:21

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Kotak Mahindra Bank’s deputy managing director Shanti Ekambaram is set to retire on October 31 after the completion of her term, marking a major transition in the leadership of the group.

The lender further announced that Paritosh Kashyap, current group president and business head – wholesale banking group, will be appointed as whole-time director (executive director) and key managerial personnel.

Ekambaram has been a part of the bank since 1991 and has played a key role in shaping the growth of the lender in the last three decades, a statement said on May 31.

With the exit of Ekambaram from the bank, it is a total change of guards from a leadership perspective. Back in 2023, when it became eminent that Uday Kotak could not continue as the bank’s MD & CEO, Ekambaram and KVS Manian (now, Federal Bank’s MD & CEO) were seen as the preferred internal choices as Kotak’s successor.

"Shanti has been a cornerstone of Kotak’s journey. Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions and an unwavering commitment to excellence," said Ashok Vaswani, MD & CEO, Kotak Mahindra Bank.

Ekambaram has led some of the most strategic businesses of group, including investment banking, capital markets, corporate banking, treasury, 811 and consumer banking, the statement added.

“It has been an extraordinary privilege to serve the Kotak Group for over three decades, across diverse roles and phases of its evolution. I take great pride in having contributed to its growth and in working alongside visionary leaders who upheld integrity, innovation, and long-term value,” Ekambaram said.

Kashyap too has been with the bank for over three decades and has been handling the wholesale banking business since 2022. He has led several key businesses including structured finance, real estate, and debt capital markets during his career with the group. He has previously been the MD and CEO of KMIL from 2016 to 2019 and is a member of the Group Management Council, according to the statement