The Reserve Bank of India has appointed Salee Sukumaran Nair as Managing Director and CEO of Tamilnad Mercantile Bank for a period of three years from the date of assuming charge, subject to shareholders approval.

In a regulatory filing, TMB said that RBI vide its letter dated August 16, 2024 approved the appointment of Mr. Nair as MD & CEO. He is not related to any of the existing directors of the bank. Till May, Mr. Nair served as SBI Deputy Managing Director & Chief Credit Officer.

Mr. Nair succeeds S. Krishnan, who resigned on September 29, 2023 citing personal reasons. On November 22, the board forwarded the names of three candidates for the MD’s post, which was rejected by RBI on April 12.

A week later, the private sector lender issued an advertisement inviting fresh proposals from candidates with suitable experience for the MD post on a contract basis for a period of three years.