CHENNAI: The Reserve Bank of India (RBI) appointed Salee Sukumaran Nair as the Managing Director (MD) and Chief Executive Officer (CEO) of Tamilnad Mercantile Bank (TMB) on Friday. Nair previously served as the Deputy Managing Director and Chief Credit Officer at State Bank of India (SBI). His appointment follows the resignation of S. Krishnan, who stepped down from his role at the private sector bank in September of last year.
In a regulatory filing, TMB said, RBI in its letter approved the appointment of Nair as the MD and CEO of the bank for a three-year term, starting from the date he assumes office.Nair, who served at State Bank of India (SBI) until May of this year, was responsible for managing the credit portfolio in his last role.
Nair began his banking career in 1987, joining SBI as a probationary officer. Over the course of his 35-year career, he has held various roles, overseeing corporate banking, stressed assets, small and medium enterprises (SME), agriculture, and financial inclusion initiatives.
At present, a Committee of Executives (CoE) consisting of three general managers is temporarily overseeing the operations of the Tuticorin-headquartered bank. This interim arrangement follows the resignation of Krishnan, who stepped down in September 2023 after expressing his desire to be relieved from his position in June of the same year.