Karnam Sekar is new head of IOB

Public sector Indian Overseas Bank on July 1 said it has elevated Karnam Sekar as the new Managing Director and Chief Executive Officer with immediate effect, replacing R Subramaniakumar.

Prior taking up the new role, Sekas was appointed as an officer on Special Duty and Whole Time Director in April, the city-headquartered bank said in a press release.

Sekar, who began his career in State Bank of India as a probationary officer, had served Dena Bank as its Managing Director and CEO.

He had also served State Bank of India as Deputy Managing Director and Chief Credit Officer. Sekar also headed SBI as Manager-Treasury in Johannesburg, South Africa.

About IOB:
Founder: M. Ct. M. Chidambaram Chettyar
Founded: 10 February 1937
Tagline: Good people to grow with.