State Bank has re-jigged its second tier management by moving P Pradeep Kumar, deputy managing director in-charge of global markets and treasury operations, to head the large corporate group.
The move was following the vacancy created by resignation of Santosh B Nayar last week, according to bank sources.Nayar, a deputy managing director in-charge of large corporates, had resigned from the bank on July 13 to join the Delhi-based state-run infra lender IFCI as its managing director and chief executive.
Following this, SBI sources told the news agency, that the bank designated K Venugopal, currently chief general manager at the global markets group, as the head of the department but without a promotion.Sources said another top deck rejig is on the anvil by the end of the month, as the senior-most managing director Diwakar Gupta, who is currently the chief financial officer and group executive, will retire after nearly four decades at the bank.
Gupta will likely be succeeded by Arundhati Bhattacharya, who was promoted as a managing director by the government last week, sources added. Bhattacharya currently heads SBI Caps, the bank’s capital markets subsidiary, and is tipped to be a front-runner for the corner office if chairman Pratip Chaudhuri does not get an extension, sources said.