Tuesday, November 2, 2010

Contractor, Chaudhuri in race for SBI MD's post

State Bank of India (SBI) Deputy Managing Directors Hemant Contractor and Pratip Chaudhuri have been identified as possible candidates for promotion as the managing director of the country's largest bank. At present, the proposal was pending with the department of personnel and training, sources familiar with the appointment process said.

One of them is likely to be appointed as a replacement for S K Bhattacharya, who superannuated last month. While R Sridharan, the second managing director, is due to retire next year, the government can also expand the number of managing directors to four.

"A few candidates have been interviewed (for the managing director's post). Some of the candidates have been shortlisted," Chairman O P Bhatt said on the sidelines of a press meet today, adding the decision would be announced shortly.

Four Deputy Managing Directors - Hemant Contractor (head of corporate and wholesale banking), K Krishnakumar (head of information technology), Diwakar Gupta (incharge of rural and national banking) and P Chaudhuri (who looks after the international banking business) - are eligible for the managing director's post. To be eligible for the post, a candidate must have two years of residual service left. SBI can have seven deputy managing directors.

Parliament recently approved two more managing directors for the bank. However, the process of appointing additional managing directors was yet to start, Bhatt said. The four DMDs who are eligible for the managing directors' post also become the contender to head the country largest bank when Bhatt retires in March 2011.

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