The Reserve Bank of India has approved the appointment of PR Seshadri as managing director and CEO of South Indian Bank for a period of three years with effect from October 1, 2023.

Seshadri has earlier worked in senior positions in Karur Vysya Bank and Citibank. At Karur Vysya Bank, he was managing director and CEO between September 2017 and March 2020. He was responsible for modernisation of the old private sector bank.

Prior to that, he served as the CEO of BFC Bank in London after joining to take up an advisory role. 

Seshadri will replace Murali Ramakrishnan who in March this year said he would not seek another term due to personal reasons. Ramakrishnan's three-year tenure ends on 30 September.

Seshadri was managing director & regional sales and distribution head at Citibank N.A., Asia Pacific, Singapore. In fact, he served long years in Citi, between 1999 and 2015. He was managing director & regional head of lending and businesses in Citibank N.A., Asia Pacific, Singapore; managing director CitiFinancial Consumer Finance India Limited (CCFIL), India; and marketing director, Citibank N.A, India branches, head of structured finance, among others.

“Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies. He has significant experiences in enterprise level management and in the management of all key commercial banking business lines and he has substantial experience in successfully managing investors, boards and regulatory relationships in multiple geographies,” an official statement said.

Seshadri holds Bachelor’s degree in electrical engineering from the Delhi College of Engineering and a post graduate diploma in management from Indian Institute of Management, Bangalore. 

He is currently mentoring businesses both at an operating level as well as at the board level at various companies.