Jay Kotak Named Senior Vice President-Conglomerate Relationships At Kotak Mahindra

Jay Kotak, son of veteran banker Uday Kotak, has taken charge as the senior vice president of conglomerate relationships at Kotak Mahindra Bank Ltd.

Jay Kotak started in the position earlier this year, in addition to his current responsibilities as the co-head at Kotak811, he said in a LinkedIn post.

"I'm happy to share that, earlier this year, I started a new position as SVP—Conglomerate Relationships at Kotak Mahindra Bank, in addition to being Co-Head at Kotak811," the post said.

In the new role, Kotak will look at wholesale, private and institutional businesses, it said.

In September, Uday Kotak stepped down as the managing director and chief executive of the bank. Before he stepped down, speculations were rife about Jay Kotak preparing to be a potential successor to lead the bank. However, after the veteran banker stepped down from the role, Dipak Gupta was appointed as the interim managing director and chief executive officer of the bank.

The Reserve Bank of India has cleared the appointment of Ashok Vaswani as the next CEO of the bank.