RBL Bank ropes in NARCL chairman Pradip Shah and EgonZehnder among others on search committee for new MD and CEO

17 Jan 2022 , 04:19 PM

The RBL Bank has received board of directors approval for the appointment of EgonZehnder as the search firm for identifying suitable candidates for the post of Managing Director & Chief Executive Officer for the Bank, in a timely manner.

Also, the Bank has roped in  Pradip Shah, Chairman, National Asset Reconstruction Company Ltd. (NARCL) as an External Expert to work with the Search Committee comprising of Manjeev Singh Puri, Chairman, Nomination and Remuneration Committee (NRC) and two other Directors, Ishan Raina and Veena Mankar.

Pradip Shah runs IndAsia, a corporate finance and investment advisory company. He is a gold-medallist Chartered Accountant, Management Accountant and MBA from Harvard, who helped establish Housing Development Finance Corporation, the first retail housing finance company in India; CRISIL, the first and largest credit rating agency in India; the Indocean Fund, a pioneer private equity fund, in partnership with affiliates of Soros Fund Management and Chase Capital Partners; the AMP-IndAsia India Fund, in joint venture with AMP of Australia; Universal Trustees, for intergenerational transfer of wealth through wills and trusts; and Grow-Trees.com, a social enterprise.

He served as Chairman, IFSC International Retail Business Development Committee, member of Gujarat Committee on Economic Revival post-Covid, was appointed by government of India on the Justice Easwar Committee for simplifying the income tax act, serves on the Banks Board Bureau; has served on several expert committees of state and central governments, was a director on the Regional Board of the Reserve Bank of India.

On Sensex, RBL Bank closed at Rs155.25  per piece down by 0.61%.