Ramaswamy Meyyappan was let go by IndusInd Bank as the bank's chief risk officer on Friday.
Ramaswamy Meyyappan, the bank's chief risk officer, resigned from his post, the bank announced in a BSE statement. Before the new name is revealed, the bank has chosen a new Chief Risk Officer and is completing the relevant procedures.
“Meyyappan has been with the Bank since May 20, 2014. Meyyappan has informed that he will be moving on to lead Risk function at a MNC Bank in his next phase of career. The Bank appreciates the contribution by Meyyappan and wishes him success in his future endeavours,” the statement reads.
The business added that Murlidhar Lakhara, who previously served as the bank's chief compliance officer for more than five years, has been given the responsibility of leading the newly created assurance function and reporting to the MD and CEO of the bank.
“Sachin Patange has been appointed as Chief Compliance Officer, and he comes with over 32 years of experience in the Compliance function across various Banks/Financial Institutions,” the bank added.
Sumant Kathpalia's appointment to the position of managing director and chief executive officer of the bank for another two years was authorised by the Reserve Bank of India (RBI) in March.