South Indian Bank on Thursday informed that PR Seshadri, Managing Director & CEO has decided to not to offer himself for reappointment to pursue activities of his personal interest, post completion of his current term. Seshadri will continue in the office of the Managing Director & CEO till the completion of his current term which is till Sept. 30, 2026.
"The Board further decided to take necessary steps to identify successor for the position of Managing Director & CEO and further resolved to do the needful to complete the appointment process, including obtaining approval from Reserve Bank of India and shareholders of the Bank in due course after identification/ shortlisting of suitable candidate(s)," the company said in an exchange filing.
PR Seshadri Career
PR Seshadri began his journey in the late 1990s with Citibank N.A. in India. His early responsibilities included overseeing retail collections, where he played a pivotal role in developing Citi's Code of Conduct for collections.
Over time, Seshadri rose through the ranks at Citi, taking on increasingly significant mandates. As Marketing Director and Head of Structured Finance, he pioneered innovative lending products and helped develop India's securitisation market at a time when such instruments were still in their infancy. His tenure saw the creation of groundbreaking structures, including the country's first synthetic securitisation and several first‑of‑its‑kind loan securities.
Seshadri then went on to lead CitiFinancial in India, where he transformed the business into the nation's largest and most-profitable non‑banking finance company.
In 2017, he returned to India as Managing Director and CEO of Karur Vysya Bank. His mandate was to modernise the century‑old private sector lender, a task he approached by digitising processes, introducing centralised credit decisioning and strengthening risk and compliance frameworks. He was with Karur Vysya Bank till 2020.
In 2023, the Reserve Bank of India (RBI) approved for the appointment of PR Seshadri as Managing Director & CEO of South Indian Bank for a period of three years with effect from Oct. 1, 2023.
PR Seshadri Education
Seshadri holds a Post-Graduate Diploma in Management from IIM-Bangalore and Bachelor of Engineering (B.E.) degree with distinction from Delhi College of Engineering.
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