Transition at the Top
Bandhan Bank announced the appointment of Ratan Kumar Kesh as its Interim Managing Director and Chief Executive Officer (MD & CEO). This decision comes as the current MD & CEO, Chandra Shekhar Ghosh, prepares to retire on July 9, 2024, after completing his tenure.
Ghosh, the founder of Bandhan Bank, has been a pioneering figure in driving financial inclusion in India through his work in the microfinance sector. Under his leadership, Bandhan Bank has grown to serve over 3.17 crore customers with a pan-India presence and more than 74,000 employees as of September 30, 2023.
Ratan Kumar Kesh's Profile
Ratan Kumar Kesh, the newly appointed Interim MD & CEO, brings over 28 years of extensive experience in the banking and finance industry, as well as in manufacturing and the service sector.
Some key highlights of Kesh's background:
Qualifications
- B.E. in Mechanical Engineering from NIT, Durgapur
- Post Graduate Diploma in Business Management from NMIMS, Mumbai
- Certified as an Advanced Quality Engineer from the Quality Council of Indiana, USA
- Trained in Six Sigma by GE and the Asian Institute of Technology
Career Milestones
- Held leadership roles at major Indian banks like ICICI Bank, HDFC Bank, Yes Bank, and Axis Bank
- Instrumental in launching and implementing HDFC Bank's pioneering "Service CRM" initiative
- Served as Chief Customer Experience Officer at Yes Bank
- Expertise in transformation, automation, customer experience, and quality improvement
Kesh's diverse experience and track record of driving operational excellence and customer-centric strategies are seen as valuable assets as Bandhan Bank navigates this transition.
Bandhan Bank's Strategic Move
The decision to appoint Kesh as the Interim MD & CEO is a strategic move by Bandhan Bank's board, as the bank prepares for a permanent leadership change. The initial search for a new CEO, led by the executive search firm Egon Zehnder, did not yield the desired results, prompting the board to appoint Kesh in the interim.
Challenges Ahead
- The bank's books are under scrutiny, requiring an experienced banker to take charge and oversee the cleanup process
- Attracting the right candidate for the permanent CEO role has been a challenge, as the position requires someone willing to relocate to Kolkata and take on the task of addressing the bank's issues
In the interim, Kesh's extensive experience in leading transformations and his expertise in technology, digital initiatives, governance, and customer-centric strategies are expected to provide stability and direction to the bank.
Kesh's Mandate and Tenure
Ratan Kumar Kesh's appointment as Interim MD & CEO has been approved by the Reserve Bank of India (RBI), based on the recommendation of Bandhan Bank's Nomination and Remuneration Committee [2].
Tenure and Responsibilities
- Kesh will assume the role of Interim MD & CEO effective July 10, 2024
- He will serve in this capacity for an initial period of three months or until a permanent MD & CEO is appointed, subject to the approval of the bank's shareholders
During his tenure, Kesh will be responsible for steering Bandhan Bank's operations and strategy, building on the bank's strengths and addressing any challenges it faces.
Future Prospects
With Ratan Kumar Kesh at the helm, Bandhan Bank aims to continue its growth trajectory and enhance its operational capabilities. Kesh's expertise in customer experience, operational excellence, and digital transformation is expected to complement the bank's strategic goals.
Stakeholder Optimism
- Bandhan Bank's shareholders, customers, and other stakeholders are optimistic about the positive impact Kesh's leadership will have during this transitional phase
- His diverse experience in the banking sector and proven ability to drive change are seen as key assets that will benefit the bank
The search for a permanent CEO continues, with the board and advisory firm Egon Zehnder working to identify the right candidate to lead Bandhan Bank into the future.
Key Highlights
| Highlight | Details |
|---|---|
| Transition at the Top | Chandra Shekhar Ghosh, the founder and current MD & CEO of Bandhan Bank, is retiring on July 9, 2024 after over 30 years of leading the bank's growth and financial inclusion efforts. |
| Ratan Kumar Kesh's Appointment | Ratan Kumar Kesh, with over 28 years of experience in banking, manufacturing, and the service industry, has been appointed as the Interim MD & CEO of Bandhan Bank effective July 10, 2024. |
| Kesh's Qualifications and Experience | Kesh holds a B.E. in Mechanical Engineering, an MBA, and is a certified Advanced Quality Engineer. He has held leadership roles at major Indian banks, driving transformations, customer experience, and operational excellence. |
| Bandhan Bank's Challenges | The bank's books are under scrutiny, requiring an experienced banker to take charge and oversee the cleanup process. Attracting the right candidate for the permanent CEO role has also been a challenge. |
| Kesh's Mandate and Tenure | Kesh's appointment as Interim MD & CEO has been approved by the RBI. He will serve in this role for an initial period of three months or until a permanent MD & CEO is appointed, subject to shareholder approval. |
| Future Prospects | Kesh's expertise in customer experience, operational excellence, and digital transformation is expected to benefit Bandhan Bank as it continues its growth trajectory. Stakeholders are optimistic about the positive impact of his leadership during this transitional phase. |
Hi, I’m Durgesh Nayak, and I hold a Master’s degree in Commerce with over five years of experience in the banking sector. I am certified with JAIIB and CAIIB, which has given me a solid foundation in financial knowledge. For the past four years, I’ve been sharing my passion for finance through writing money and finance blogs.
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