INDIA: South Indian Bank (SIB), one of India’s leading private sector banks with over nine decades of legacy, has announced the appointment of P R Seshadri as its new Managing Director and CEO, effective from October 1, 2023. Seshadri will succeed Murali Ramakrishnan, who served a successful tenure from October 2020 till September 30, 2023.
With nearly 25 years of banking experience spanning domestic and international markets, Seshadri has held senior leadership positions at prestigious institutions, including Karur Vysya Bank Limited and Citigroup. His leadership, marked by scaling, optimizing, growing, and transforming businesses, has earned him respect and acclaim within the industry. His career trajectory underscores his ability to drive sustained growth, emphasizing the adoption of digital operational frameworks and innovative solutions to meet the unique demands of the Indian market.
Welcoming the incoming Managing Director & CEO, Thomas Joseph K, Executive Vice President and Chief Business Officer said, “Embracing a new era of leadership, we proudly welcome Mr. Seshadri to lead our institution. With a proven track record and a visionary approach, he embodies the future of banking excellence. His expertise will guide us toward greater heights, paving the way for success and prosperity for our valued clients and stakeholders. Together, we anticipate exploring new frontiers in finance and redefining growth through a customer-centric ethos.”
Commenting on his appointment, Seshadri said, “Leading South Indian Bank is a privilege as we embark on a growth journey, leveraging technology while upholding our business values and rich heritage. I am enthusiastic about collaborating with the Bank’s talented professionals to build upon the legacy. Together, we will navigate the evolving financial landscape, delivering innovative solutions and unparalleled service to our clients.”
Seshadri is an electrical engineer and holds a Post Graduate Diploma in Management from IIM Bangalore. In his new role as MD & CEO, he is poised to lead South Indian Bank into an era of growth and innovation, while upholding its rich legacy and core values, promising an exciting journey ahead for the Bank and its stakeholders.
South Indian Bank is a leading Kerala-based private-sector bank with a nationwide presence. The Bank’s shares are listed on The Stock Exchange Mumbai (BSE) and The National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 942 branches, 1175 ATMs, and 130 CDMs/CRMs across India and a representative office in Dubai, UAE. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the banking sector in the country. The Bank’s Vision 2024 focuses on the 6 Cs–Capital, CASA, Cost-to-income, Competency Building, Customer Focus, and Compliance.
South Indian Bank’s appointment of P R Seshadri as its new MD & CEO is a significant move towards driving sustained growth and innovation in the banking sector. With his proven track record and visionary approach, Seshadri is poised to lead the Bank into a new era of banking excellence, delivering innovative solutions and unparalleled service to its clients.
