The Board of Directors of Ujjivan Small Finance Bank on Monday appointed Ittira Davis as the MD and CEO of the bank. The appointment is subject to the approval of the members of the bank and the Reserve Bank of India RBI Davis has been appointed as MD and CEO for a period of 3 years from the date of approval of the RBI or such other period as may be approved by the bank, the bank said in an exchange filing.
Davis was appointed MD and CEO to fill the vacancy caused by the resignation of former MD and CEO Nitin Chugh. As many as eight board members, including Chugh, left the Ujjivan Small Finance Bank in the last year, as a result of the large-scale exodus of its directors.
The filing said that Davis has been appointed as Key Managerial Personnel in the terms of Section 203 of the Companies Act, 2013, for a period that will end with his tenure as MD and CEO of the Ujjivan Small Finance Bank.
Davis is an international banker with over 40 years of banking experience, having worked extensively in India, the Middle East and Europe. He was with the European Arab Bank from July 2008 to October 2012, initially as Managing Director Corporate and Institutional Banking and then as Executive Director.
He has previously worked with Citibank in India and the Arab Bank Group in the Middle East and has been associated with Ujjivan since 2015. He played a pivotal role in its transition into a Small Finance Bank, the filing said.
He was the Chief Operating Officer of the bank until June 2018. Davis was the MD and CEO of Ujjivan Financial Services Limited from July 2018. He resigned as MD and CEO on March 12, 2021.