Manian vs Federal Bank Execs in CEO Race, Shares Hit High

Key Takeaway

• Federal Bank's CEO search includes internal candidates Harsh Dugar, Shalini Warrier, and ex-Kotak executive K.V.S Manian.
• Manian's potential move to Federal Bank drove shares to a record high following his resignation from Kotak Mahindra.
• Market closely watches the impact on leadership and management stability at both Federal Bank and Kotak Mahindra.

Leadership Transition at Federal Bank

Federal Bank Ltd is in the process of selecting a new chief executive officer, with the tenure of the current CEO, Shyam Srinivasan, set to end in September. The list of potential candidates includes two internal executives, Harsh Dugar and Shalini Warrier, alongside K.V.S Manian, a recent departure from Kotak Mahindra Bank Ltd. This information comes from sources close to the matter, who prefer to remain anonymous due to the confidentiality of the search process. The executive search is being led by Egon Zehnder.

Candidate Profiles

K.V.S Manian, who has recently resigned from Kotak Mahindra Bank, was previously considered a potential CEO candidate at Kotak before the role was assigned to an external candidate. At Kotak, Manian was instrumental in driving growth across various sectors, including the wholesale bank, commercial bank, and private banking, in addition to overseeing the institutional equities and investment banking businesses. Shalini Warrier, who joined Federal Bank as chief operating officer in 2015, has expanded her role to include business head of retail banking products since 2019. Harsh Dugar, who came on board in 2016 as the country head for corporate and institutional banking, was appointed executive director in 2023 after a long tenure at HDFC Bank Ltd.

Market Reaction and Speculation

The speculation surrounding Manian's potential move to Federal Bank has positively impacted the bank's shares, which hit a record high amid local media reports. This follows Manian's surprise resignation from Kotak Mahindra Bank, where he had been elevated to joint managing director just months before his departure. Analysts and investors are closely watching these developments, considering the implications for both Federal Bank's future leadership and Kotak Mahindra Bank's management stability.