R. Koteeswaran on 2 January 2015 took charge as new Chairman and Managing Director (CMD) of public sector Indian Overseas Bank (IOB).
He succeedded M Narendra. He is appointed for a period of three years or till the date of superannuation, whichever is earlier.
Earlier, Koteeswaran was serving as Executive Director of Bank of India.Koteeswaran began his career in 1976 in Bank of Baroda and later joined Bank of India as its Executive Director.
R. Koteeswaran served as General Manager of Information Technology & Projects at Bank of Baroda and served as its General Manager. Koteeswaran has been Executive Director of Bank of India since August 2013.
His appointement was confirmed by the Department of Financial Services (DFS) under the Union Ministry of Finance on 31 December 2014, along with the appointment of three others chiefs of Public Sector Bank (PSB).
They were appointed on the recommendations of Appointments Board chaired by the Reserve Bank of India (RBI) Governor Raghuram Rajan.
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