Overview

• IndusInd Bank appointed Viral Damania as chief financial officer effective Sept. 22, designating him as a key managerial personnel.
• Santosh Kumar will cease as special officer in-charge of finance and accounts and return to his position as deputy CFO.
• The appointment marks the second major leadership addition under MD & CEO Rajiv Anand after the Sept. 1 naming of Pragati Gondhalekar as head of internal audit.
• The leadership changes follow identified accounting issues in the derivatives portfolio and related problems in microfinance, with a SEBI probe finding former leaders knew of the issues before disclosure and resignations in April.
• Damania succeeds former CFO Gobind Jain, who left in January, and brings about 27 years of experience including CFO roles at Bank of America India and prior stints at Citibank and PwC.