SBI top deck recast: 5 deputy MDs, 18 chief GMs appointed

Saikat Das
moneycontrol.com

India's largest lender the State Bank of India has recast its top management. It has recently promoted five chief general managers (CGMs) to fulfill the vacancies of deputy managing directors (DMDs) and around 18 general managers (GMs) to the posts of chief general managers (CGMs), sources with the direct knowledge of the development told moneycontrol.com.
Those five new DMDs include: B Shriram (CGM - Delhi), B V Chaubal (CGM - Stress Asset Management group, Mumbai), Sharad Sharma (CGM - Chennai), V Murali (CGM - Kerela), and Sushil K Mishra (CGM - Bhopal). In terms of seniority, Chaubal comes first while Shriram appears to be the junior most.
However, four out of five are yet to get their postings. Only Murali from Kerela circle so far got his posting as DMD - Hyderabad in charge of inspection & management audit. Similarly, the lender has posted Kalyan Mukherjee (GM - Mumbai) to the State Bank of Mysore as CGM. SBI does banking operations through 14 business circles.
"Posting for the rest four DMDs would likely to happen in next two weeks. It happens as and when the existing breed of DMDs retires from their service. They can be posted any where within the SBI group. A DMD can also be placed as the managing director (MD) of any associate group entity," said a senior SBI official on condition of anonymity.
For example, Achal Gupta who was the CGM - corporate account group (Mumbai) was promoted as MD of the State Bank of Patiala in the recent past.  Moreover, the MD's post for the State Bank of Mysore is lying unoccupied. Currently, SBI has around eight DMDs in Mumbai.
SBI chairman Pratip Chaudhuri is likely to retire in September, 2013. It has currently three managing directors including Hemant Contractor, Diwakar Gupta, and A Krishna Kumar. While Krishna Kumar may enjoy the longest tenure till, November, 2014; Contractor's term would end in April 2014. Gupta will serve till July, 2013. According to the market grapevine, Krishna Kumar along some other DMDs are potential candidates for the top job at SBI after September, 2013.
The lender has already selected two names for two MDs' post. As per SBI statute, it has provisions for four MDs. Hence, one post is already lying vacant while the retirement of one of the existing MDs would create vacancy for the other. Those select candidates include: S. Vishwanathan, MD & CEO, SBI Capital Markets and Soundara Kumar, DMD - SBI (Mumbai), sources said.
saikat.das@network18online.com