Axis Bank appoints Gopalaraman Padmanabhan to its Board as Independent Director

– INDIA, Mumbai –  Axis Bank Limited (LON: AXB) today announced the appointment of Shri Gopalaraman Padmanabhan to its Board as an additional Independent Director effective from 28th October 2020.

The Board of Directors also announced the appointment of Shri Ashish Kotecha as an Alternate Director to Non-Executive Director Shri Stephen Pagliuca with effect from 1st November 2020.

The Board also announced the re-appointment of Smt. Ketaki Bhagwati, as an Independent Director of the Bank for her second term as such, for three years, with effect from 19th January 2021.

About Shri Gopalaraman Padmanabhan

Shri Padmanabhan holds extensive experience and expertise in bank regulation and supervision of foreign exchange/securities markets in India, information technology and payment systems, with more than 35 years of experience with the RBI in various capacities i.e. recommending and implementing policies, systems, guidelines and regulations relating to the banking, financial services and securities sector of the country.

Shri Padmanabhan was the Chairman of the Committee to implement GIRO in the country and has been involved in the implementation of the new e-Treasury system in the Reserve Bank. He was also involved in the operationalisation of the first of its kind ISO 20022 standards-based RTGS System and the digitisation of payment transactions. He was also the Chairman of the Technical Committee on Services/ Facilities for Exporters and a part of the think tank to manage market volatility, as well as a member of the Governing Council of the Institute for Development & Research in Banking Technology, a banking research institute established by RBI. He represented RBI in the Committee on Payment and Settlement Systems, Basel and was also inducted into the Steering Group of the CPSS-IOSCO for Review of Standards.

As a member of the Working Group of the CPSS, Basel, Shri Padmanabhan worked on the report on Principles for Financial Market Infrastructures and also chaired the International Working Group set up by CPSS on Non-banks. He was one of the persons responsible for drafting the Sodhani Committee’s report in 1995 on the foreign exchange market and measures for widening and deepening the market and has supervised the revision of the Internal Control Guidelines for Foreign Exchange Business in 1996. Shri Padmanabhan was also a member of the internal group that prepared and submitted a Technical Paper on Asset -Liability Management for Indian banks which was accepted by the Bank and formed the basis for Reserve Bank of India’s initiative. On superannuating while holding the position of Executive Director from the RBI, Shri Padmanabhan was appointed as Non-Executive Chairman of Bank of India in August 2015. He held this position for 5 years till August 2020. Padmanabhan advises several firms on banking/ foreign exchange and payment system and other regulatory issues.

He holds a post-graduate in Economics from Kerala University and a Masters in Business Administration from the Birmingham Business School.

Shri Ashish Kotecha

Shri Ashish Kotecha joined Bain Capital Private Equity in 2010. He is a Managing Director and leads the Portfolio Group in Asia. As part of this, he works actively with companies across the region including India, Australia, China, and Korea.

Before joining Bain Capital Private Equity, Shri Kotecha was the Acting Chief Operating Officer at Tourneau – a Leonard Green & Partners portfolio company, where he led a turnaround of the company during the GFC. Previously, he was an Associate Principal at McKinsey & Company in San Francisco where he co-founded and led McKinsey’s Retail Private Equity service line. Before that, he worked at Goldman Sachs and the Kotecha Group.

He holds a Masters in Business Administration.

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About Smt. Ketaki Bhagwati

Smt. Ketaki Bhagwati is an Independent Director of the Bank since 19th January 2016.

Smt. Ketaki Bhagwati is a former Chief Investment Officer in the Financial Institutions Group at the International Finance Corporation, the private sector financing arm of the World Bank Group. She has over twenty-seven years of experience in private equity, M&A, debt & structured finance and distressed asset workouts across sectors in several regions including Asia, the Middle East & Africa. Before IFC, Smt. Bhagwati worked at the Credit Rating Information Services of India in Mumbai. She is currently a member of the Wellesley College Business Leadership Council and a Senior Advisor at the South Asia Centre of the Atlantic Council in Washington DC.

She holds a Bachelors of Arts from Wellesley College and a Master of Public Administration from Harvard University’s John F. Kennedy School of Government.

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