Banks Board Bureau Moves To Appoint CEOs Of Four Large Public Sector Banks

Banks Board Bureau, the headhunter for public sector banks, has invited applications for the posts of managing director and chief executive officer at four major public sector banks, including Bank of Baroda and Punjab National Bank.

Banks Board Bureau had last week issued public notices inviting applications for the top posts at PNB and Bank of India. On, Monday it broadened the exercise to include Bank of Baroda and Canara Bank.

The post of MD and CEO at Bank of Baroda and Canara Bank will fall vacant in October and January, respectively. The post of MD and CEO in PNB will fall vacant after Sunil Mehta superannuates on Sept. 30. The post in Bank of India is lying vacant since July 1 after Dinbandhu Mohapatra retired.

According to the Banks Board Bureau's recruitment notice, candidates including those from the private sector can apply for the vacancies at the four banks till Sept. 23.

The appointments will be for three years.

"To help assess the leadership competencies and potential capabilities of shortlisted candidates an advisory firm may assist the Banks Board Bureau.

"The advisory firm will have no role in shortlisting. Shortlisted applicants will appear for interactions with the Bureau," the notice said.

Based on the interactions, Banks Board Bureau said it will send its recommendation to the government.

In 2018, PNB was hit by a Rs 14,000 crore fraud perpetrated by jeweler Nirav Modi and his uncle and Gitanjali Gems promoter Mehul Choksi. Bank of India was in the Reserve Bank of India’s Prompt Corrective Action framework till January this year. Bank of Baroda recently absorbed Dena Bank and Vijaya Bank.