The Tuticorin-based Tamilnad Mercantile Bank (TMB) Ltd has announced the appointment of Krishnan Sankarasubramaniam as the Managing Director and CEO with effect from September 4, 2022 for three years, approved by the Reserve Bank of India (RBI), pursuant to its letter of approval dated August 18, 2022.
The Board of TMB has appointed Krishnan as the Managing Director and CEO as the term of the incumbent MD & CEO, K V Rama Moorthy ended on September 3, 2022, according to a statement.
The date of the new CEO’s term coincides with the opening of the public issue of the Bank. TMB has raised ₹363.53 crore from anchor investors ahead of its initial public offering share sale, which opens for public subscription on Monday, September 5, 2022, and closes on Wednesday, September 7, 2022.
Previous experiences
Krishnan served as the MD & CEO of Punjab & Sind Bank from September 4, 2020 to May 31, 2022. His tenure saw the transformation of the Bank across digital, IT, risk, compliance, monitoring, recovery, business development, and HR. He played a crucial role in the bank’s turnaround leading to the bank registering the highest ever profitin 2021-22, the statement said.
Krishnan was also the Executive Director of Canara Bank from April 1 2020 to September 3, 2020, before joining Punjab & Sind Bank. Before Canara Bank, he served as the Executive Director of Syndicate Bank between November 1, 2017, and March 31, 2020.
Krishnan, a Post Graduate in Commerce and a qualified Cost Accountant, started his Banking career in January 1983 at Indian Bank. In a career spanning more than three decades, he gained expertise in almost all the key areas of banking. He headed vital verticals like risk management, information systems security, HR, etc. He was also Executive Secretary to the Board of Indian Bank. He is also a Certified Associate of the Indian Institute of Bankers (CAIIB).
Published on
September 04, 2022
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