Kotak Mahindra Bank Ltd, a leading financial services company, has appointed Chetan Savla as Chief Human Resources Officer. He will be responsible for the strategic direction and execution of human resource strategies at the bank. He will report to Dr. Srinivas Rao, Chairman & Managing Director.
Kotak Mahindra Bank has promoted Chetan Savla to the role of Chief Human Resources Officer. The bank is one of India’s largest private-sector banks and currently employs over 5,000 people in its Mumbai, Delhi, and Bangalore branches.
Savla will be responsible for managing the bank’s human resources function and ensuring that it meets its target of being a leading employer in the Indian banking industry. He will also play a key role in developing Kotak Mahindra Bank’s talent management strategy and building a strong talent pipeline.
In his new role, Savla will report directly to CEO Rakesh Bhartia and he will be responsible for all aspects of employee development, including talent acquisition and retention, HR strategy and execution, diversity and inclusion, leadership development, compensation management, and organizational design.
Chetan has over 20 years of experience in the human resource space, including working in India’s largest bank before joining Kotak Mahindra Bank as Vice President and Head of People & Transformation. He also served as a board member on the NRIs India Inc. (NRI) Foundation Board of Trustees.
Chetan holds a Bachelor’s degree with honors in Economics from St. Stephen’s College and an MBA from IIM Ahmedabad. Chetan Savla has been appointed the new Chief Human Resources Officer of the bank. He will be responsible for managing all HR functions including recruitment, compensation and benefits, training and development, succession planning, employee relations, and labor law compliance.
As CHRO of Kotak Mahindra Bank, Chetan Savla will be responsible for driving strategy across the organization by collaborating with senior leadership to drive transformation through effective workforce management.
He also leads recruitment efforts at Kotak Mahindra Bank, which has been steadily hiring talent from across India to meet its growing needs. Kotak Mahindra Bank has elevated Chetan Savla as its new chief human resources officer. The bank had recently appointed Savla as managing director of the bank’s corporate banking and wealth management business.
Savla will be responsible for leading Kotak Mahindra Bank’s human resource function, which includes recruitment, compensation and benefits, employee relations, training, performance management and development, compensation and benefits administration, retirement planning, and other HR functions.
The bank said that it will continue to focus on strengthening its processes and systems to ensure compliance with all laws and regulations governing the HR function.
Savla joined Kotak Mahindra Bank in November 2018 as managing director of the corporate banking and wealth management business. He is a chartered accountant with more than 20 years of experience in finance across various industries including manufacturing, retail, and financial services sectors.
The Bank has about 14000 branches across India and about 11000 employees on its rolls. Kotak Mahindra Bank started as a small regional bank. It was founded by Mr. Kotak and his partners Mr. Mahadeo Shetty and Mr. Savla in 1995. After several years of expansion, it acquired IndusInd Bank, which was then renamed Kotak Mahindra Bank Ltd., by Mr. Kotak himself in 2002 (Kotak Mahindra Bank Ltd., 2002).