Kotak Mahindra Bank appoints Vyomesh Kapasi as Head of Products - Consumer Bank

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Kotak Mahindra Bank on February 20 appointed Vyomesh Kapasi as Head of Products - Consumer Bank and Shahrukh Todiwala as the new MD & CEO of Kotak Mahindra Prime Limited.

Vyomesh joins Kotak Mahindra Bank from Kotak Mahindra Prime Ltd, where he served as the MD & CEO, the lender said.

Vyomesh's appointment came after last month Ambuj Chandna, head of consumer products at the private lender, had resigned citing to pursue new opportunities outside the Bank.

Announcing the changes, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said: "These appointments underscore the deep bench strength at Kotak and our commitment to fostering leadership talent. Vyomesh's extensive experience and proven track record in driving growth and innovation will be invaluable as we continue to enhance our consumer products. Shahrukh's deep understanding of the vehicle financing market will ensure that KMPL continues to thrive and deliver exceptional value to our clients and stakeholders."

The exit of Ambuj Chandna comes months after Virat Diwanji, Group President and head of consumer bank, stepped down from his role on July 31 on account of his superannuation.

Last month, Chief Operating Officer and Chief Technology Officer Milind Nagnur also stepped down citing personal reasons.

In his resignation letter, Milind Nagnur stated that he intends to return to the US to care for family members. The resignation, dated January 3, confirmed that his final day at the bank would be February 15, 2025.

Shahrukh Todiwala takes over from Vyomesh Kapasi as the new MD & CEO of Kotak Mahindra Prime Limited. Shahrukh has been with KMPL since 1995, and currently heads Wholesale and Retail vehicle finance businesses at KMPL, release added.