State Bank of India (SBI) has appointed new deputy managing directors and given additional responsibility to existing DMDs to fill in the gap after five of its DMDs were selected head other public sector banks, in a novel move by the government spread the managerial talent of the country's largest bank. SBI will promote chief general managers to deputy managing directors (DMD) in April 2019. Until then the bank has given some of its DMDs additional responsibilities.
Anuradha Rao as DMD will take the charge of strategy and chief digital officer. Rao was earlier heading SBI Mutual Fund. She moved back to the bank in September after Ashwani Bhatia took charge at the Mutual fund. Bhatia was earlier involved with the restructuring at the bank.
C Venkat Nageswar, who was in charge of global markets will take over as DMD International Banking Group(IBG) to step in when Siddhartha Sengupta retires in January 2019. Siddhartha Sengupta will continue in the same post to hand hold Nageswar, besides the additional responsibility of global markets. This will help Nageswar to concentrate on the IBG portfolio at a time when the bank is trying to revamp its overseas operations.
Head of the corporate accounts group, Chalia Sreenivasulu Setty will take charge as DMD of stressed assets resolution group. He was earlier in charge of corporate accounts group. Partha Pratim Sengupta will take over as deputy managing director as a chief credit officer.
PN Prasad DMD in charge of Commercial Clients Group 1 will have the additional responsibility of CCG II. Earlier Prasad was the CGM heading the mid-corporate group. Prashant Kumar will be the deputy managing director and the chief financial officer with an additional charge of DMD (HR) and corporate development. Apart from being the chairman at Purvanchal Gramin Bank at Gorakhpur, Kumar has also worked as CGM at Kolkata circle. He is currently heading the HR vertical of the bank as DMD.
This year in April, the country's largest lending bank had elevated CGMs- Anil Kishora, Ramesh Babu Boddu, PN Prasad, Sujit Kumar Varma, Sanjeev Nautiyal, DA Tambe, Hardayal Prasad, Partha Pratim Sengupta, and Challa Srinivasulu Setty to DMDs. Anil Kishora is the DMD and chief risk officer designate of the bank who will take charge for a period of two years from October 1 2018.
SBI has 16 deputy managing directors and four managing directors who are headed by the chairman, Rajnish Kumar. The chairman and the four managing directors of SBI are government employees. To take up the top posts they first have to resign and they get reappointed to the bank by the government. So technically the DMDs are the top-most employees of the bank.
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