Federal Bank, one of India's leading private sector banks, today announced the elevation of Mr. Venkatraman Venkateswaran to the position of Executive Director on its Board. The appointment, approved by the Reserve Bank of India (RBI), is effective from July 10, 2025, for a tenure of three years. This key appointment fills the vacancy created by the departure of Ms. Shalini Warrier.

Mr. Venkateswaran, aged 59, brings a wealth of experience to his new role. Prior to this elevation, he served as the Group President and Chief Financial Officer (CFO) of Federal Bank, a position he assumed in April 2021. In his capacity as CFO, he was responsible for a wide array of critical functions including financial reporting, taxation, operations, loan collections & recovery, credit administration, credit monitoring & remedial management, corporate social responsibility, investor relations, corporate planning, and Management Information Systems (MIS).

A qualified Chartered Accountant, Mr. Venkateswaran's career spans over 33 years, with diverse experience across the manufacturing and banking sectors. He spent the initial 12 years of his professional journey in the manufacturing industry, gaining foundational insights into business operations. Following this, he transitioned to the banking sector, accumulating 21 years of experience with renowned financial institutions such as Standard Chartered Bank and HSBC, before joining Federal Bank.

During his four-year tenure at Federal Bank as Group President and CFO, Mr. Venkateswaran has demonstrated exceptional leadership and a deep understanding of financial operations and strategic planning. The bank highlighted his pivotal role in successfully leading transformative initiatives that have contributed to increased revenue, cost reductions, and enhanced customer satisfaction. His comprehensive knowledge of banking functions and his ability to drive positive change have been instrumental in the bank's recent performance.

The appointment of an internal candidate like Mr. Venkateswaran to such a crucial executive position underscores Federal Bank's commitment to nurturing talent from within and recognizing proven leadership. His existing familiarity with the bank's operations, strategic goals, and culture is expected to ensure a seamless transition and continued momentum in the bank's growth trajectory.

Federal Bank has been focusing on its "Digital at the Fore and Human at the Core" mantra, aiming to redefine human experience through digital innovation while maintaining strong customer relationships. Mr. Venkateswaran's strategic insights, particularly from his CFO role, will be vital in further integrating technology and financial acumen to achieve the bank's objectives.

This appointment comes at a time when the Indian banking sector is undergoing rapid evolution, driven by digital transformation, evolving customer expectations, and a dynamic regulatory landscape. Mr. Venkateswaran's extensive experience and leadership will be crucial as Federal Bank continues to navigate these changes and strive for sustained growth and profitability. His appointment is also subject to the approval of shareholders at the upcoming Annual General Meeting or within three months from the date of assuming charge, whichever is earlier.