DCB Bank board forms search committee to identify new CEO and MD

Private sector lender DCB Bank on Friday said the board has formed a search committee to identify candidates for the position of managing director and chief executive officer.

Murali Natrajan is the current managing director and chief executive officer of the bank, whose tenure of 15 years will be completed on April 28, 2024.

Further, the board of directors of the bank has also approved the appointment of Korn Ferry as the search firm for the mandate of identification and evaluation of suitable candidates for the position of managing director and CEO.

The search committee along with the search firm, over the next few months, shall evaluate internal and external candidates for the position of managing director and CEO. The bank will endeavour to complete the succession process within stipulated regulatory guidelines, it added.

DCB Bank hikes FD interest rates, senior citizens to get maximum of 8.75%

Natrajan was appointed as the bank's MD and CEO back in May 2009. Prior to that, he worked with foreign banks such as Citibank and Standard Chartered. He spent 14 years in Citibank in various departments — credit, finance, operations, and product management, among others. He joined Citibank in 1989.

At Standard Chartered, Natrajan was SME Banking's Global Head. He was promoted in November 2004 to Head of Consumer Banking for India as well as Nepal. He had to oversee different businesses such as wealth management, branches, mortgages, credit cards, ATMs, SMEs, and personal loans.