Private sector lender SBM Bank India has appointed Ashish Vijayakar as managing director and chief executive officer.

The appointment is for three years starting 17 February, the bank said in a statement.

Vijayakar replaces Sidharth Rath who had tendered his resignation last year before the completion of his term.

Vijayakar has held key leadership positions across various geographies in Standard Chartered Bank. As co-head and managing director at Standard Chartered Bank, he had demonstrated his ability to navigate complex market dynamics. 

As a career banker, he has worked in domains of business transformation, risk management and innovation, among other areas of operations.

Vijayakar is a bachelor of commerce from Mumbai University, CA from the Institute of Chartered Accountants of India and an LLB (general) from Mumbai University.

SBM Bank India is the first bank to receive a universal banking licence from the Reserve Bank of India to set up and operate as a scheduled commercial bank under the wholly-owned subsidiary mode offering banking services in India.