Shanti Ekambaram, a prominent figure in the Indian banking sector and Deputy Managing Director at Kotak Mahindra Bank, is set to retire on October 31, 2025, after a remarkable three-decade-long career with the group. Her departure marks the end of an era and signifies a notable shift in the leadership landscape of one of India's leading private sector banks.

Ekambaram's journey with the Kotak Group began in 1991, and she has since been instrumental in shaping the institution's growth and evolution. Over the years, she has held diverse roles, contributing significantly to various facets of the bank's operations. Her deep understanding of the banking industry, coupled with her strategic vision, has been invaluable to Kotak Mahindra Bank's success.

In a letter to the Board, Ekambaram stated that her decision to retire came after careful consideration. She expressed her gratitude for the enriching experience and the opportunity to contribute to the Kotak Group's journey. "It has been an extraordinary privilege to serve the Kotak Group for over three decades, across diverse roles and phases of its evolution," she said. "I take great pride in having contributed to its growth and in working alongside visionary leaders who upheld integrity, innovation, and long-term value."

Ashok Vaswani, MD and CEO of Kotak Mahindra Bank, lauded Ekambaram's contributions, stating, "Shanti has been a cornerstone of Kotak's journey. Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions, and an unwavering commitment to excellence." Her departure follows that of Uday Kotak and other senior leaders, including KVS Manian.

Concurrently with Ekambaram's retirement announcement, Kotak Mahindra Bank has elevated Paritosh Kashyap to the position of Executive Director, subject to regulatory approvals. Kashyap, who has been with the Kotak Group for over 30 years, currently heads the Wholesale Banking business. He has also led several key businesses, including Structured Finance, Real Estate, and Debt Capital Markets. His promotion signifies the bank's focus on nurturing internal talent and ensuring a smooth leadership transition.

In addition to these changes, Himanshu Vasa will step down as Chief Compliance Officer and Senior Management Personnel on July 10, 2025, upon his retirement. Anantha Raman R, currently Head of Internal Audit, will assume the role of Chief Compliance Officer for a three-year term starting July 11, 2025. Ashish Athalye, Senior Executive Vice President and Head – Audit (Assets, Trade, Treasury, Risk, Control & Support functions), will take over as Head of Internal Audit from the same date.

These leadership changes reflect Kotak Mahindra Bank's commitment to adapting to the evolving financial landscape and ensuring strong governance. As Shanti Ekambaram prepares to embark on a new chapter in her life, her legacy as a transformational leader and one of the few women at the helm of a major Indian bank will undoubtedly continue to inspire generations of banking professionals.