RBL Bank to hire EgonZehnder as new managing director

RBL Bank to hire EgonZehnder as new managing director

The private sector lender will hire executive search firm EgonZehnder and Pradip Shah, Chairman, National Asset Reconstruction Company Ltd., to select the lender's new full-time managing director and chief executive.

Rajeev Ahuja, an executive director at the bank, is acting as interim MD CEO after Vishwavir Ahuja went on medical leave in December 2021. The Reserve Bank of India has approved R Ahuja's appointment for up to three months from December 25, 2021.

The bank said in a stock exchange filing that the board of directors of the lender has decided to associate with Pradip Shah as an external expert to work with the search committee of board.

The search panel comprises Manjeev Singh Puri, Chairman, Nomination and Remuneration Committee NRC and two other directors, Ishan Raina and Veena Mankar.

The search committee also approved EgonZehnder as a search firm for identifying suitable candidates for the position of MD CEO in a timely manner.

The RBI also appointed Yogesh Dayal, its chief general manager, as an additional director on the board of RBL Bank for two years, until December 23, 2023 or until further orders, whichever is earlier.