Federal Bank CFO Venkatraman Venkateswaran elevated to executive director

Federal Bank has elevated its group president and chief financial officer, Venkatraman Venkateswaran, as executive director, following approval from the Reserve Bank of India (RBI) for a three-year term starting July 10. The 59-year-old Chartered Accountant will first assume charge as additional executive director, pending shareholder approval at the upcoming AGM or within three months, whichever comes first.

With over 33 years of professional experience, Venkateswaran joined Federal Bank in April 2021 as group president. “During his four-year stint in Federal Bank, Venkatraman Venkateswaran has exhibited exceptional leadership qualities that align with our strategic goals,” the bank noted in its statement. 

He is widely credited for initiating and executing transformative projects within Federal Bank that have led to higher revenues, lower operational costs, and improved customer experience. The bank said in a regulatory filing that the appointment is aligned with the strategic direction of the institution and acknowledged Venkateswaran's extensive experience in financial management and banking operations.

Over the years, he has handled a wide range of critical functions at Federal Bank, including financial reporting and taxation, overseeing the bank’s day-to-day operations, managing loan collections and recovery processes, and leading credit administration and monitoring activities.

He has also played a key role in shaping the bank's corporate social responsibility initiatives and has been actively involved in investor relations and corporate planning. Additionally, he has led efforts in management information systems and analytics, supervised the bank's information technology infrastructure, and provided strategic oversight of FedServ, the bank’s wholly owned subsidiary, as stated in the bank's regulatory document.

Venkateswaran began his career in the manufacturing sector, where he spent 12 years before transitioning into banking. He has since held key roles at Standard Chartered Bank and HSBC, before moving to Federal Bank.

The bank clarified that he is not related to any other director and is not disqualified by any regulatory authority from holding the position.