Kotak Mahindra Bank's commercial realty head Sandeep Kotak quits
Sandeep Kotak has resigned as the head of Commercial Real Estate at the Kotak Mahindra Bank, two sources told VCCircle.
Sandeep Kotak, also a Senior Executive Vice President, had completed six years in the post and Jan 24 was his last working day.
He was part of the Corporate Banking team handling the realty division. A e-mail sent to the bank did not elicit any response till the time of publishing this article. Messages sent to Sandeep Kotak also went unanswered.
The next move of Sandeep Kotak, who is not related to Uday Kotak, the promoter of the bank, could not be ascertained. Kotak Mahindra Bank, which ventured into the Commercial Real Estate (CRE) Division about six years ago, has been actively looking to venture into hospitality and health care projects for over four years.
Sources said that a replacement to his post would be identified internally and the bank has stopped hiring fresh talent outside the bank. In the past, Kotak bank filled vacant posts internally.
In 2012, Falguni Nayar had quit as managing director of Kotak Mahindra Bank after being in the company for 19 years.
She was replaced by Shanti Ekambaram, who was heading the Wholesale Banking at Kotak Mahindra Bank.
Sandeep Kotak is a BE from The Maharaja Sayajirao, University of Baroda and MBA in Finance from Devi Ahilya Vishwavidyalaya in 1995.
(Edited by Prem Udayabhanu)