New Delhi, July 30 -- Kotak Investment Banking, a subsidiary of Kotak Mahindra Bank, has named two of its top executives as co-chief executive officers while elevating incumbent Ramesh Srinivasan as non-executive vice-chairman.
Srinivasan, who currently serves as managing director and chief executive officer of the investment bank, will take up the new role from August 1 for a three-year period, according to a press note.
The company also appointed V. Jayasankar and Sourav Mallik as managing directors and co-CEOs with effect from August 1. Jayasankar is currently managing director while Mallik is managing director and deputy CEO.
Srinivasan has served at the Kotak Group for over three decades. In his new role, he will advise the management on strategic matters and strengthen the firm's insight on regulatory matters and institutional knowledge. He will also advise the group on key institutional relationships, the note said.
Kotak Investment Banking said Jayasankar and Mallik will jointly lead the business with "equal authority and responsibility". It said the co-CEO structure builds on their long-standing partnership and shared commitment to the firm's clients, people and growth strategy.
Uday Kotak, chairman of Kotak Investment Banking, said Jayasankar and Mallik bring "deep institutional knowledge, long-standing client relationships, specialist product expertise and an outstanding track record of execution". "Together, they will ensure continuity, and take the business to its next phase of growth," he added.
Kotak Investment Banking offers financial advisory services and financing solutions to Indian and multinational corporations, individual promoters and financial sponsors across diverse sectors. The services include equity capital market issuances, M&A advisory, and private equity advisory.
Published by HT Digital Content Services with permission from VC Circle.