Lakshmi Vilas Bank said it has received approval from the Reserve Bank of India (RNI) for appointing Parthasarathi Mukherjee as managing director (MD) and chief executive officer (CEO) for three years, as per a stock market disclosure.
Mukherjee will succeed Rakesh Sharma, who had stepped down as MD and CEO in September this year to join state-owned lender Canara Bank. Sharma was among other private bankers who were picked by the government for public sector banks.
With 33 years of experience in the banking industry, Mukherjee was with Axis Bank in his most recent role where he served as group executive (corporate relationships and international business). He also led Axis Bank Treasury during the financial crisis between 2007 and 2008.
Prior to joining Axis Bank, Mukherjee has worked with State Bank of India for 12 years.
He started his career in 1982 and has handled responsibilities in areas such as treasury, agriculture, small scale finance, forex and branch banking.
Mukherjee is an aluminums of Presidency College, Kolkata.
Founded in 1926, Lakshmi Vilas Bank is based in Chennai with offices in Delhi, Karnataka, Maharashtra, Telangana, Andhra Pradesh and Pondicherry.
As on June 30, 2015, the lender had around 400 branches spread across 16 states and a union territory and a network of a total 820 ATMs.
The bank has received approval from the RBI to open 60 more branches this year.