NS Venkatesh will be the new Managing Director & Chief Executive Officer of Association of Mutual Funds in India (AMFI).
Venkatesh will finish his last day at Lakhsmi Vilas Bank as the Chief Financial Officer and Executive Director on October 21.
“NS Venkatesh, Executive Director & Chief Financial Officer of our Bank has submitted his resignation letter dated October 11, 2017 following his appointment as Managing Director & CEO of Association of Mutual Funds in India. The letter was placed before the Board Meeting held today and the Board has accepted the same. Shri NS Venkatesh will be relieved from his services at the close of office hours on Saturday, October 21, 2017, as per his request,” said Lakshmi Vilas Bank in its statement.
Lakhsmi Vilas Bank made this filing on the exchange after it reported an 84 percent decline in its net profit at Rs 10.5 crore against Rs 64.8 crore, in the year-ago period.
Prior to joining the small private bank, he was the Executive Director and Chief Financial Officer at IDBI Bank.
The post of AMFI chief has been lying vacant after CVR Rajendran exited in November 2016, two years ahead of his contract ended to join Catholic Syrian Bank as the CEO.