Chennai, May 3: The Chennai-based Indian Bank has just effected a major re-shuffle in the second rung of management, inducting six new general managers (GMs) and shuffling portfolios among the others. The bank has used the opportunity presented by the move of one of the GMs, Cherian Verghese, to the Central Bank of India where he has become the executive director and the super-annuation of a few others.Moreover, of its three zones two have been upgraded and will now have general managers at the top, while four departments: credit, priority, personnel and human resources and inspection, get new heads.
More pertinently, the shift will allow the bank's chairman and managing director S Rajagopal to devote much more of his time to these four divisions, especially the all important credit, priority and HRD divisions, all of which will now have newly promoted officials as departmental heads.
The other two crucial areas, strategy and planning and recovery are in the hands of Rajagopal's trusted aides, MBN Raoand V Ramanan. While the latter continues to head recovery and rehabilitation, Rao moves over from inspection and accounts to head computer, policy, planning and development as well as Strategy. He will also retain Accounts.
The other old hands, S Ramaswamy, Jayantilal Jain, S Arunachalam and S Veeraraghavan will for the most part continue with their old duties. Ramaswamy continues to be the chief vigilance officer, while Jain continues to handle planning and economic research. Arunachalam will carry on as the general manager of subsidiaries and marketing. Veeraraghavan however now gets public relations in addition to his old charge, the international division.
Four deputy general managers (DGMs) have come up the ladder to assume new charges. N Santhanaraman comes to the all important credit from being the DGM at Coimbatore, while TK Subramanian takes over personnel and human resources after having been the DGM at the same department. Another newly promoted DGM, AR Nagappan moves into Rao's place atinspection and also gets reconciliation as additional charge. SR Sivaswamy comes from his post as DGM Inspection in Chennai to take over the priority department, which was earlier headed by Verghese, now Central Bank ED.
The bank had planned to upgrade its three zones in the strategic revival plan (SRP) it had submitted to the government some time back. With this the Chennai, Delhi and Mumbai zones now come under general managers also. Two of these, Chennai and Mumbai, will now have newly promoted general managers, D Valliappan and N Varadhan, respectively. Delhi will continue to be headed by S Sarangaraj Kumar.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
