Arun Shrivastava Takes Charge as MD and CEO of Syndicate Bank
Syndicate Bank has appointed Arun Shrivastava as its new Managing Director and Chief Executive Officer. The appointment ends a prolonged leadership gap at the public sector bank, which had been without a full-time chief for nearly nine months.
The vacancy followed the arrest of former Chairman and Managing Director S K Jain in a high-profile corruption case. With Shrivastava now at the helm, the move is expected to bring much-needed stability and restore confidence within the bank’s management and among stakeholders.
Headquartered in Manipal, Karnataka, Syndicate Bank is one of India’s oldest lenders, established in 1925. The absence of a permanent leader had raised concerns around governance and strategic direction, particularly at a time when the bank was navigating reputational and operational challenges.
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Arun Shrivastava brings over 30 years of experience in the banking sector. He began his career in 1979 as a direct recruit officer at Bank of Baroda and later held several senior roles at Bank of India, including Executive Director. During his tenure, he led functions spanning corporate lending, debt restructuring, strategy, asset recovery, and international banking. His overseas assignments included heading operations in Indonesia and Botswana, as well as overseeing a joint venture in Zambia.
Industry insiders view Shrivastava’s appointment as a positive step towards improving asset quality and enhancing operational efficiency at Syndicate Bank. His experience in managing complex portfolios and leading teams during challenging periods will be critical as the bank seeks to rebuild trust and improve profitability.
As he takes over the top role, Shrivastava’s immediate priorities are likely to include streamlining operations, addressing legacy issues, and setting a fresh strategic direction for the bank in a competitive and regulated financial environment.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
