Shanti Ekambaram, Kotak Mahindra Bank’s Deputy Managing Director and director on the bank’s board will retire from her position at the end of her current term on October 31, the bank notified to the exchanges on Saturday.
The bank also notified that Paritosh Kashyap, Group president and business head –Wholesale Banking Group, will be appointed as the whole-time director (executive director) and key managerial personnel, subject to regulatory approvals.
Ekambaram joined the Kotak Group in 1991. In her over three-decade association with the bank, she played a key role in various divisions, including leading businesses across investment banking, corporate and consumer banking, treasury, and digital banking platform 811.
“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.
“After deep reflection and with a heart full of gratitude, I wish to formally inform you of my decision to retire from my role as a director and deputy MD on the board of Kotak Mahindra Bank, effective upon the completion of my current term on October 31, 2025,” Ekambaram wrote in the letter to the board of the bank.
Ekambaram graduated with a Commerce degree from Sydenham College, University of Mumbai and had a stint with Bank of Nova Scotia in its corporate banking and treasury division.
“It has been an extraordinary privilege to serve the Kotak Group for over three decades, across diverse roles and phases of its evolution. As I prepare to step away, I remain fully committed to supporting a smooth and seamless transition,” Ekambaram said.
Kashyap has been with Kotak for over three decades and has been heading the wholesale banking business since 2022. He has led several key businesses including structured finance, real estate, and debt capital markets. He was also the MD and CEO of KMIL from 2016 to 2019 and is a member of the Group Management Council.
“Paritosh brings deep institutional knowledge, strategic foresight, and a strong customer-first mindset. I look forward to working closely with him as we continue to build the Kotak of tomorrow,” Vaswani added.