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Jaideep Hansraj Appointed as Group President – One Kotak Shripal Shah to Lead Kotak Securities Limited

Mumbai, 15 March 2024: Kotak Mahindra Bank Ltd. (“KMBL” / “Bank”) today announced the appointment of Jaideep Hansraj as Group President – One Kotak. This marks a pivotal move towards leveraging the Group’s financial conglomerate model and delivering holistic propositions to customers. Jaideep will spearhead a cultural shift towards driving collaboration to unlock internal synergies across the Bank and its subsidiaries. Shripal Shah, currently President and COO at Kotak Securities will take over from Jaideep as the new Managing Director & CEO for Kotak Securities, subject to receipt of necessary approvals. Jaideep will move into the new role on receipt of such approvals or April 1, 2024, whichever is later.

Ashok Vaswani, Managing Director & CEO, Kotak Mahindra Bank said, “Jaideep’s appointment underlies the faith in and the importance of driving a One Kotak mindset in the way we think for our customers. With his rich experience amassed over three decades, through building and scaling various businesses of Kotak in a collaborative manner Jaideep is poised to lead this transformative journey for Kotak to identify and execute the opportunities available to us as a Group. I am also thrilled to welcome Shripal as the new leader for Kotak Securities, further highlighting the deep talent pool within the organization.”

Jaideep Hansraj said, “This is an exciting opportunity to build upon our legacy of innovation and growth across the group. I look forward to pursuing new avenues of growth and collaboration across our businesses. This will not only elevate our propositions but also help create lasting value for our customers, stakeholders and communities.”

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Limited

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on December 31, 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,869 branches and 3,239ATMs, in addition to a branch in GIFT City and in DIFC (Dubai).

For more information, please visit the company’s website at https://www.kotak.com/

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