Kotak Mahindra Bank’s deputy MD Shanti Ekambaram to retire; appoints Paritosh Kashyap as executive director

Kotak Mahindra Bank said late on Friday that its deputy managing director, Shanti Ekambaram, will be retiring from her role, effective October 31 of this year, ending a nearly stint with the bank.

Ekambaram played a pivotal role in shaping the group’s growth and the evolution of the institution over the past three decades. She has led several of the group’s most strategic businesses, including Investment Banking, Capital Markets, Corporate Banking, Treasury, 811, and Consumer Banking. 

Ashok Vaswani, the MD and CEO of Kotak Mahindra Bank, called Ekambaram’s contributions a cornerstone to its journey. “Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions, and an unwavering commitment to excellence,” Vaswani said. 

“It has been an extraordinary privilege to serve the Kotak Group for over three decades, across diverse roles and phases of its evolution. I take great pride in having contributed to its growth and in working alongside visionary leaders who upheld integrity, innovation, and long-term value,” Ekambaram said.

Concurrently, Kotak Mahindra Bank said that Paritosh Kashyap, currently Group President and Business Head, Wholesale Banking Group, will be appointed as Whole-time Director and Key Managerial Personnel, subject to regulatory approvals. “Paritosh brings deep institutional knowledge, strategic foresight, and a strong customer-first mindset. I look forward to working closely with him as we continue to build the Kotak of tomorrow,” Ashok added. 

Kashyap has been with the bank for over three decades and has been heading the Wholesale Banking business since 2022. He has led several key businesses, including Structured Finance, Real Estate, and Debt Capital Markets, during his long career with the Group. Paritosh was also the MD and CEO of Kotak Mahindra Investments Limited from 2016 to 2019 and is a member of the Group Management Council.

“I am honored and humbled to take on this new role and look forward to working with the team to build on our strong foundation and drive our strategy to transform for scale,” said Kashyap.  

On Thursday, the bank also elevated Kanchi Parekh as the vice president, marketing, at Kotak Mahindra Bank, according to a LinkedIn post shared by Parekh. She has been associated with the bank for over three years, currently serving as the deputy vice president of marketing.