INSUBCONTINENT EXCLUSIVE:
Major state-run financial-sector gamers like the countrys largest lender, State Bank of India (SBI), and the largest life insurer, Life
Insurance Corporation (LIC), are likely to see a change of the guard at the top in 2023.
The first quarter of calendar 2023 will see new
faces heading four large public-sector banks-- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
SBI Chairman Dinesh
Kharas term ends in early October
Khara had presumed charge as chairman in October 2020 with a three-year term
Before transferring to the corner workplace, he was handling director (MD) with SBI.
Amongst the present team of 4 MDs, C S Setty, the
senior-most, is viewed as a contender to change Khara
There have actually been circumstances when an SBI chairpersons term was extended even after the individual turned 60.
L V Prabhakar, MD and
ceo (CEO) of Canara Bank, will demit workplace on December 31, 2022
The Financial Services Institutions Bureau (FSIB), the headhunting entity for directors of state-owned banks and financial institutions, has
actually advised K Satyanarayana Raju, executive director, for the position of MD and CEO.
Partha Pratim Sengupta, MD and CEO of Indian
Overseas Bank, retires on December 31, 2022
Sanjiv Chadha, MD and CEO, Bank of Baroda, will end his innings in January next year
Chadha was selected MD and CEO on January 20, 2020, for a three-year term
Earlier he was working as MD and CEO of SBI Capital Markets, the merchant and investment banking arm of SBI.
The FSIB started the procedure
of finding his successor in early December
Chadha will turn 60 in June next year.
Bank of India, another Mumbai-based lender, will see A K Das demitting workplace of MD and CEO on
January 20, 2023, on finishing a three-year term
Prior to ending up being CEO, he was executive director with the same bank
The FSIB started look for his successor in November
Like Chadha, Das will turn 60 in June.
LIC Chairman MR Kumars existing term ends in March, 2023
Kumar who was selected in 2019, received an extension this year ahead of the going public of the insurance coverage behemoth.
Together with
Kumar, MD Raj Kumar, who got a years extension, is set to retire in 2023
Another LIC MD, B C Patnaiks term ends on March 31
UCO Bank MD and CEO Soma Sankara Prasad will turn 60 in May 2023.
