Tata Capital's former private equity head Shailendra Bhandari is expected to join ING Vysya as its Chief Executive Officer, two news reports said. Tata Capital announced last week that Bhandari had quit the firm to explore other opportunities. Prior to Tata Capital, Bhandari was the CEO of Centurion Bank of Punjab. Following its acquisition by HDFC Bank, he had quit the bank.
According to Mint newspaper, Bhandari may replace the position left vacant by Vaughn Richter, the former chief executive officer of ING Vysya Bank, who retired in April.
“Bhandari has been one of the many banking chiefs ING has been talking for sometime now. He is expected to move to the bank as managing director and chief executive officer,” Mint reported, quoting two people from the banking industry.
The report further quoted an ING Vysya Bank spokesperson said,“The appointment of the new chief executive officer at ING Vysya Bank is one of our top priority and the process is well underway and advancing satisfactorily. There has been enough speculation in the media about who the new chief executive officer of the bank might be, but out of respect for their privacy we will not divulge their identity nor confirm on any rumoured names.”