Shyam Srinivasan
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Shyam Srinivasan | |
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| Born | 2 February 1962 Trivandrum, Kerala, India |
| Nationality | Indian |
| Education |
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| Alma mater | |
| Occupation | MD & CEO of The Federal Bank Ltd |
Shyam Srinivasan (born 2 February 1962) is a banker who took charge as the Managing Director & Chief Executive Officer of The Federal Bank Ltd, a major private commercial bank in India, on 23 September 2010.[1][2][3]
He has spent over 20 years with multinational banks in India, the Middle East and South East Asia, working primarily in retail lending, cards, wealth management and SME banking. Previously he has worked at WIPRO, Citi Bank and Standard Chartered, where he was on the Global Executive Forum (the top 100 executives) of Standard Chartered Bank] from 2004 to 2010.[4]
Under his leadership, the bank made significant strides in digitization, network expansion, and enhanced underwriting architecture, among other areas. Notably, during his tenure, the bank reduced the average age of its workforce from the 40s to the 30s and improved employee diversity, with women now comprising 43% of the workforce. This achievement positions the bank as one of the largest employers of women, by percentage, in the country.
Education
[edit]Shyam Srinivasan completed his Bachelor of Engineering (B.E.) degree from Regional Engineering College, Tiruchirappalli (now known as National Institute of Technology, Tiruchirappalli) and his PGDM from Indian Institute of Management, Calcutta. He has also participated in a Leadership Development Program at the London Business School.[5]
Career
[edit]Citi Bank
[edit]Shyam Srinivasan joined Citi bank in its early years in the 90's and has worked in numerous roles until leaving the organization in August 2001 as the VP & Chief Operating officer of the consumer banking wing.
Standard Chartered
[edit]He served in various capacities at Standard Chartered Bank from 2001- 2010, culminating in his role as Country Head of Consumer Banking.
Federal Bank Ltd
[edit]When Mr. Srinivasan joined Federal Bank, it was a small regional institution with limited presence outside Kerala. Through his leadership and strategic initiatives, the bank has grown into the 10th largest in India by market capitalization as of July 2024. Under his tenure, the bank has undergone significant transformation, driven by substantial investments in technology, the verticalization of businesses, and the establishment of strong governance structures. Additionally, the deepening of distribution channels, strengthening of control functions such as risk, audit, and compliance, and the separation of origination, underwriting, monitoring, and recovery processes have all contributed to the bank's remarkable growth and national prominence over the past decade.
Under Shyam Srinivasan's leadership, Federal Bank significantly enhanced its Corporate Social Responsibility (CSR) initiatives across various sectors. Key programs include the Federal Skill Academy, aimed at upskilling underprivileged individuals to improve their employability, and "Speak For India," a platform designed to empower young thinkers. Additionally, the bank supported a women-led, pan-India motorbike expedition to challenge gender stereotypes, launched initiatives to assist communities during the COVID-19 pandemic, and organized 'Sanjeevani,' India’s largest vaccination awareness drive, in partnership with Network 18.
Shyam Srinivasan's tenure as Managing Director and CEO of Federal Bank will end on September 23, 2024. He will be succeeded by KVS Manian, the former Joint Managing Director of Kotak Mahindra Bank.
Other Key positions
[edit]- Member of the Managing Committee of IBA.[6]
- Member of the Board of Governors of the Development and Innovation Strategic Council of Kerala (DISC).
- Member of the committee on Financial Sector Legislative Reforms set up by Reserve Bank of India.
- Past Chairman of Kerala State Council of Confederation of Indian Industries.
- Honorary fellow & governing council member of Indian Institute of Banking and Finance.
- Chairman of Policyholder Protection Committee of IDBI Federal.
- Alternate Chairman in the following committees of the Indian Bank's Association.
- Committee on Risk Management and Basel Implementation.
- Agro Business and MSME.
Awards and honors
[edit]- Business Standard Banker of the Year 2020[7]
- India's top 50 Best Leaders in times of Crises 2021 by the Great Place to Work Institute
- Best Banker of the Year 2020 by the State Forum of Bankers Clubs (SFBC), Kerala
- The Greatest Corporate Leaders Of India Award given by the World HRD Congress
- Exemplary Leadership Award from the Rotary Club
- Rashtriya Udyog Ratna Award instituted by the NEHRDO
- Distinguished Alumnus Award 2017 of IIM Calcutta
- Recipient of Distinguished Alumnus Award of NIT, Trichy
References
[edit]- ^ "Federal Bank appoints Srinivasan as MD, CEO". The Economic Times. Mumbai. 27 September 2010. Retrieved 5 October 2012.
- ^ Somasroy Chakraborty (31 August 2011). "Q&A: Shyam Srinivasan, MD & CEO, Federal Bank". Business Standard. Mumbai. Retrieved 9 October 2012.
- ^ "Key Personnel". Federal Bank. Retrieved 9 October 2012.
- ^ https://etunwired.et-edge.com/virtual/indialeadersconclave/shyam-srinivasan-2[permanent dead link]
- ^ "Stocks". Bloomberg.com. Retrieved 27 March 2017.
- ^ "Top Private Banks in India | Federal Bank | Online Banking Services". www.federalbank.co.in.
- ^ "Federal Bank's Shyam Srinivasan is Business Standard Banker of the Year". Business Standard. 21 January 2021.