Chennai: The Reserve Bank of India has appointed Salee Sukumaran Nair as the Managing Director and CEO of Tamilnad Mercantile Bank (TMB) for a three-year term, starting from the date he assumes charge. This appointment is subject to approval from the bank’s shareholders.
Prior to this, Nair served as the Deputy Managing Director and Chief Credit Officer at State Bank of India (SBI). He will succeed S. Krishnan, who resigned from the position on September 29, 2023, citing personal reasons.
TMB’s board had initially forwarded three candidates for the MD position on November 22, but the RBI rejected the proposals on April 12, 2024. Subsequently, the bank issued an advertisement inviting applications for the role on a contractual basis for three years. Nair’s appointment is seen as a key leadership move as Tamilnad Mercantile Bank navigates its future growth and strategic initiatives.
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