Managing Director (MD) and Chief Executive Officer (CEO) of ING Vysya Bank Shailendra Bhandari on 28 October 2014 resigned from his post after taking charge of the Bangalore-based private lender.
He will continue to be in the office till 31 January 2015. However, Bhandari's term was schedule to end in August 2015. He took charge of ING Vysya Bank in August 2009.
The board of directors of ING Vysya Bank at its meeting held on 28 October 2014 approved his letter of resignation. Moreover, the board proposed the appointment of Uday Sareen as the new CEO of the ING Vysya Bank. Currently, Uday Sareen is the deputy CEO and wholesale banking head of the bank.
The appointment of Uday Sareen as MD & CEO of ING Vysya Bank is now subjected to approval of Reserve Bank of India.
• Bhandari holds a masters degree in management from the Indian Institute of Management, Ahmedabad (IIM-A).
• He has over twenty five years of experience and has been the head of private equity at Tata Capital. He was also the MD and CEO of Centurion Bank of Punjab.
• Bhandari has worked with HDFC Bank, the second largest private-sector lender in the country and was part of the core team as treasurer and executive director.
• He served as the Managing Director, Chief Executive Officer and President of ICICI Prudential Life Insurance Company Ltd.
Who: Shailendra Bhandari
When: 28 October 2014