Tamilnad Mercantile Bank appoints Salee S. Nair as new MD and CEO

Salee S. Nair brings over 35 years of banking experience, including expertise in corporate, international and stressed asset management

BILKULONLINE

Chennai, Ahmedabad, August 17: Tamilnad Mercantile Bank (TMB) is pleased to announce the appointment of Mr. Salee S. Nair as the new Managing Director & Chief Executive Officer (MD & CEO) of the Bank. Nair's appointment is for a term of three years from his date of joining.

In a statement about his new role, he said: Nair expressed his enthusiasm: “I am honored to take on this role at such a crucial time for Tamil Nadu Mercantile Bank. I look forward to working closely with the Board, the management team and all employees to build on the strong foundation laid by my predecessors and advance the Bank's strategic priorities.”

Nair brings over 35 years of experience in the banking and financial services sector and has had a distinguished career with significant achievements. Prior to joining TMB, he was Deputy Managing Director and Chief Credit Officer at State Bank of India (SBI). During his extensive career at SBI, he handled large corporate accounts including those of Reliance and Essar and headed international offices in New York and Sydney. He also headed retail bank branches in Rajasthan and Western Uttar Pradesh and played a key role in the merger of State Bank of Bikaner & Jaipur with SBI.

Nair's expertise also extends to non-performing assets management. He led the Stressed Asset Vertical as Chief General Manager and later as Deputy Managing Director of the Stressed Assets Resolution Group. His leadership in resolving non-performing assets (NPAs) through restructuring, IBC, compromise and ARC sale routes was instrumental. In his last role, he was DMD and Chief Credit Officer at SBI, responsible for overseeing the loan portfolio until May 2024.

Nair has a degree in applied electronics and started his career with SBI in 1987 as a probationary officer. His extensive experience and proven track record make him an ideal candidate to lead Tamilnad Mercantile Bank into its next phase of growth and development.

TMB looks forward to leveraging Nair’s extensive experience and strategic vision to continue its tradition of excellence and innovation in the banking sector.

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