Kotak Mahindra Bank Limited announced the following changes in the Key Managerial Personnel /Senior Management of the Bank: Appointment of Mr. Devang Gheewalla as the Chief Financial Officer and a Key Managerial Personnel of the Bank, designated as `President and Group Chief Financial Officer', with effect from April 1, 2024 consequent upon the superannuation of Mr. Jaimin Bhatt, currently Group President and Group Chief Financial Officer, on March 31, 2024; Appointment of Mr. Milind Nagnur, currently the Chief Technology Officer of the Bank, as the Chief Operating Officer of the Bank, with effect from April 1, 2024. It may be noted that Mr. Nagnur shall continue to be the Bank's Chief Technology Officer and will also be responsible for Operations of the Bank as also the Group Technology Architecture and Cyber Security; and Appointment of Mr. Paul Parambi, currently the Chief Risk Officer of the Bank, as the Group Chief Risk Officer of the Bank, with effect from March 1, 2024. In view of the upcoming superannuation of Mr. Jaimin Bhatt, the current Group Chief Financial Officer and a Key Management Personnel, on March 31, 2024, Mr. Devang Gheewalla has been appointed as the new Group Chief Financial Officer and a Key Management Personnel, with effect from April 1, 2024.

Mr. Gheewalla, aged 56 years, is a B.Com, Chartered Accountant and a Cost and Works Accountant. He has varied experience in the areas of finance, advisory, operations and audit. He has been with the Kotak Group since 2004 and is currently President and CFO Banking and has been a part of the Key Leadership Team of Kotak from 2014.

Mr. Milind Nagnur is the Group President & Chief Technology Officer (CTO) of the Bank Mr. Nagnur has a Bachelor of Technology Degree from Indian Institute of Technology (IIT) Bombay and an MBA in Computer Information Systems and Finance from Indian Institute of Management (IIM) Calcutta. Mr. Nagnur brings with him more than 20 years of global experience in technology leadership roles predominantly in the banking and Fintech space. Mr. Paul Parambi has been with the Kotak Mahindra Group since 1991.

He has been the Chief Risk Officer of the Bank since November 2019. Earlier at Kotak, he has handled a variety of roles including heading the international business and as Head - Group Strategy. Mr. Parambi is an alumnus of the Indian Institute of Management, Ahmedabad (1989) and the Indian Institute of Technology, Madras (1987).