Private sector lender Axis Bank on Friday said the board of directors has appointed Subrat Mohanty as executive director of the bank effective from May 1, 2023.

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The appointment is for a period of 3 years and is subject to the approval of the shareholders of the bank and RBI. Subrat Mohanty would be liable to retire by rotation, the lender said in an exchange filing.

"This is to inform you that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of Axis Bank at its meeting held on April 28, 2023, has approved the appointment of Subrat Mohanty as a Whole-time Director, designated as “Executive Director” of the Bank effective from May 1, 2023; or the date of approval of his appointment by Reserve Bank of India, whichever is later," the bank said.

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Mohanty is the group executive of banking operations & transformation at Axis Bank since October 2020. He leads all functions under the retail & wholesale banking operations, information technology, strategy, and business intelligence unit of the bank.

He has more than 23 years of experience, spanning different industries and functions. In his previous stint, he served as the group president at Manipal Education & Medical Group responsible for business performance and strategy across the group’s interests in education, healthcare, and insurance.

Prior to joining Manipal Group, he was the COO of HDFC Life Insurance Company Ltd responsible for a wide range of functions including strategy, operations, technology, digital and health insurance. Previously, at Infosys, he has been in a variety of leadership roles across operations, solutions strategy, and technology-led transformation programs.

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He started his career with Andersen Consulting (now Accenture). Subrat holds a Bachelor’s degree in Mechanical Engineering from NIT, Rourkela, and has an MBA from the Indian Institute of Management, Calcutta.

(Edited by : Pradeep John)