The power corridors are abuzz that P S Jayakumar, former Consumer Banking Head of Citibank, is expected to be appointed as MD & CEO of Bank of Baroda; country’s second-biggest state-run bank. Jayakumar is the Co-founder of VBHC Value Homes Pvt Ltd, a low budget housing company. Reportedly, Jayakumar’s name was selected and duly recommended by the panel (headed by Raghuram Rajan) in the third week of June to the Finance Ministry for requisite clearances and further ratification of ACC.
Bank of Baroda has been running headless since 31 July 2014 after S S Mundra (CMD, BoB) was appointed as RBI Deputy Governor. Ranjan Dhawan is heading the bank as MD & CEO since February 27, 2014.