P. Suriaraj Named Executive Director of Dhanlaxmi Bank

P. Suriaraj has assumed the role of Executive Director at Dhanlaxmi Bank, bringing with him extensive experience from his prior position at Tamilnad Mercantile Bank Ltd. His appointment comes after recent changes in the bank’s board, including the resignation of an independent director in 2023.

P. Suriaraj Appointed Executive Director at Dhanlaxmi Bank

P. Suriaraj has stepped into the role of Executive Director at Dhanlaxmi Bank, bringing valuable experience from his previous tenure at Tamilnad Mercantile Bank Ltd. His appointment is expected to strengthen the bank’s strategic direction and operational performance.

Background and Appointment

Suriaraj has had a distinguished career in banking, with significant contributions to Tamilnad Mercantile Bank Ltd, where he held key positions. His expertise is set to enhance the leadership team at Dhanlaxmi Bank.

Recent Changes at Dhanlaxmi Bank

Suriaraj’s appointment comes after notable shifts within the bank’s board. In September 2023, independent director Sridhar Kalyanasundaram resigned, citing concerns over factionalism and governance issues. This resignation has sparked discussions on corporate governance at the bank.

Current Board Composition

As of January 2025, the board of Dhanlaxmi Bank includes:

K.N. Madhusoodanan: Part-Time Chairman
Ajith Kumar K.K.: Managing Director & CEO
G. Rajagopalan Nair: Independent Director
D.K. Kashyap: RBI Additional Director
Sreesankar Radhakrishnan: Independent Director
Dr. Nirmala Padmanabhan: Independent Director
Ms. Vardhini Kalyanaraman: Independent Director
Nageswara Rao Chatradi: RBI Additional Director
Dr. Jineesh Nath C.K.: Director

This diverse board aims to ensure robust oversight and strategic guidance for the bank.

Implications for Dhanlaxmi Bank

Suriaraj’s appointment, alongside the recent board changes, marks a significant transitional phase for Dhanlaxmi Bank. Stakeholders are closely monitoring how these shifts will impact the bank's governance, strategic decisions, and its performance in the highly competitive banking sector.

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