Equitas Small Finance Bank Md And Ceo Pn Vasudevan Resigns

Equitas Small Finance Bank on Thursday said its managing director and chief executive officer PN Vasudevan has resigned from the bank. Vasudevan is the founder of Equitas Small Finance Bank.

The board in its meeting held today (May 19, 2022) has taken the letter on record and wishes to place on record its deep appreciation of the contribution made by Vasudevan over the years, the bank said in a statement

The board would be forming a search committee shortly to undertake the process of identifying a successor. Vasudevan would continue as the MD and CEO till the succession and transition process is completed, it said.

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Prior to joining the bank, he was the managing director of EHL. Vasudevan holds a bachelor’s degree in science (physics) from the University of Madras. He is a qualified company secretary from the Institute of Company Secretaries of India.

He has extensive experience in the financial services sector and had served as the executive vice president and head of the consumer banking group in Development Credit Bank Ltd, for more than one and half years.

Shares of Equitas Small Finance Bank ended at Rs 59.15, up by Rs 0.10, or 0.17 percent on the BSE.

First Published: May 19, 2022, 07:02 PM IST