Who is Ashok Vaswani? BIO, Age, Net worth, Wife, Kids, Family, Education, Wiki
Ashok Vaswani is a prominent Indian banker who has been appointed as the new managing director and chief executive officer of Kotak Mahindra Bank, one of India’s leading private-sector banks. He will succeed Uday Kotak, the founder and billionaire banker who stepped down from his executive role in September 2023. Vaswani is expected to take charge of the bank by January 1, 2024, for a period of three years.
Birthday & Biography
Ashok Vaswani was born in Mumbai, India, between 1960 and 1970. His exact date of birth is not known. As of 2023, he is around 62 years old. He belongs to the Sindhi community and follows Hinduism. He is married to Veena Vaswani and has a daughter named Anoushka Vaswani.
Educational Background
Vaswani has a bachelor’s degree in commerce, economics, and accountancy from Sydenham College of Commerce and Economics (Bombay University). He is also a qualified chartered accountant and a company secretary. He has also completed an executive education program at Stanford University’s Graduate School of Business.
Vaswani has a rich and diverse experience of over three decades in the banking industry. He started his career at Citigroup in 1984, where he worked for 20 years in various roles and geographies. He was the CEO of Citigroup Asia Pacific and a member of the Citigroup Global Operating and Management Committees.
Parents & Siblings
Ashok Vaswani was born in Mumbai, India, between 1960 and 1970. His exact date of birth is not known. He belongs to the Sindhi community and follows Hinduism. His father’s name is Mr. Vaswani and his mother’s name is Mrs. Vaswani. Their first names and occupations are not available.
He has a brother named Rajesh Vaswani, who is also a banker and works as the head of corporate banking at Standard Chartered Bank in Singapore. He also has a sister named Sunita Vaswani, who is a homemaker and lives in Mumbai with her husband and two children.
Net Worth
According to the web search results, Ashok Vaswani has a net worth of $58,391 USD as per his public asset declaration in 2018. However, this figure may not reflect his true wealth, as he may have other sources of income and assets that are not disclosed. Moreover, his net worth may have increased since then, as he has received several shares and bonuses from his previous employers and current ventures.
Some of the web search results indicate that Ashok Vaswani received 548,538 shares of Barclays Group valued at 975,000 pounds in 2018 and 1.09 million Barclays shares worth 1.8 million pounds in 2016 as part of his compensation package as CEO of Barclays UK. He also received a salary of 1.2 million pounds and a bonus of 1.4 million pounds in 2019. He may have also earned from his other roles at Barclays, such as chief digital officer, global consumer and payments CEO, Barclays Africa CEO, and Barclays Cards Europe CEO.
Additionally, Ashok Vaswani may have also gained from his current position as the president of Pagaya Technologies, a US-Israeli AI fintech company that uses machine learning and big data to provide asset management and lending solutions. The company has raised over $500 million in funding and has a valuation of over $8 billion. Ashok Vaswani may have also invested in other fintech startups or ventures that could add to his net worth.
Ashok Vaswani’s Wedding, Spouse & Children
His wife’s name is Veena Vaswani. She is a homemaker and a supportive partner to Ashok. She accompanies him to various events and functions, where they are often seen smiling and posing together. She also shares his passion for education and social causes and helps him in his philanthropic endeavors.
His daughter’s name is Anoushka Vaswani. She is a young and talented professional who works in San Francisco, USA. She graduated from Stanford University with a degree in computer science and engineering. She is currently working as a product manager at Google, where she leads the development of innovative features and solutions for Google Search.
Vaswani is very proud of his daughter and often posts pictures of her on his social media accounts. He also visits her frequently in the US and spends quality time with her. He considers her as his inspiration and motivation to achieve greater heights in his career and life.
Banking Career
In 2006, he joined Barclays, a London-based multinational bank, where he held several senior positions. He was the CEO of Barclays UK from 2016 to 2019, where he oversaw the retail and business banking operations, UK cards, and UK wealth verticals. He was also the chief digital officer of Barclays Group from 2021 to 2022 and the global consumer and payments CEO from 2019 to 2021. He also served as the CEO of Barclays Africa from 2011 to 2012 and the CEO of Barclays Cards Europe from 2010 to 2011.
Vaswani is known for his digital and customer-centric approach to banking. He led the drive to digitize the UK retail bank and transformed the consumer and payments businesses at Barclays. He also established transformational partnerships with fintech companies and leveraged forward-leaning technology to deliver strong bottom-line growth.
In June 2022, Vaswani left Barclays and joined Pagaya Technologies Ltd., a US-Israeli AI fintech company, as its president. He is also on the board of the London Stock Exchange Group, the SP Jain Institute of Global Management, UK, and supports various philanthropic organizations, such as Pratham and Lend-A-Hand.
What are Ashok Vaswani’s achievements?
Ashok Vaswani has been recognized as one of the most influential bankers in the world by various publications and platforms. Some of his notable achievements are:
- He was named one of the Top 100 Most Influential People in Finance by Worth Magazine in 2021.
- He was awarded the Outstanding Contribution to Financial Services Award by Retail Banker International in 2019.
- Vaswani was ranked as one of the Top 50 Global Indian Influencers by India Global Business in 2018.
- He was honored with the Asian Banker Leadership Achievement Award for the UK & Ireland in 2018.
- He was featured as one of the Top 100 BAME (Black, Asian, and Minority Ethnic) Leaders in Business by the Financial Times in 2017.
- Ashok was conferred with the Honorary Doctorate of Science by Aston University in 2017.
- He was listed as one of the Top 25 Most Innovative Bankers in Europe by The Banker Magazine in 2016.
- He was selected as one of the Top Digital Influencers by Financial Brand in 2016.
- He was chosen as one of the Top Digital Eagles by City A.M. in 2015.
Why was Ashok Vaswani appointed as the new CEO of Kotak Mahindra Bank?
Kotak Mahindra Bank, one of India’s largest private lenders, announced on October 21, 2023, that the Reserve Bank of India (RBI) had approved its proposal to appoint Vaswani as its next managing director and chief executive officer (MD & CEO) for a period of three years. He will succeed Dipak Gupta, who has been serving as the interim CEO since September 1, 2023, when Uday Kotak, the billionaire founder and longtime boss of the bank, stepped down as MD & CEO.
Uday Kotak, who is now a non-executive director at the bank, said that Vaswani was a “world-class leader and banker with digital and customer focus” and that he was proud to bring a “global Indian” home to build Kotak and India of tomorrow.
The appointment of Vaswani is seen as a surprising choice, as the bank had a strong internal candidate in Gupta, who was widely expected to take over from Uday Kotak. However, it is also seen as a strategic move by the bank to leverage Vaswani’s global expertise and digital vision to transform its operations and services in the competitive and fast-changing banking sector.
Wikipedia | Facebook | Instagram
Wikipedia: Ashok_Vaswani
Instagram: ashokvaswani
Facebook: ashok.vaswani
Facebook 2: profile.100089538684167
LinkedIn: ashokvaswani
What are Ashok Vaswani’s plans for Kotak Mahindra Bank?
Ashok Vaswani will be the second full-time CEO of Kotak Mahindra Bank, which began as a bill-discounting firm in the 1980s and converted into a full-fledged commercial bank in 2003. It is among the few institutions that offer a full suite of financial services, such as brokerage, insurance, advisory, and M&A.
Vaswani will bring his global expertise and digital vision to lead Kotak Mahindra Bank, which has a market capitalization of over $40 billion and a customer base of over 28 million. He will face some immediate challenges, such as increasing the bank’s market share in retail lending, especially credit cards, where it lags behind its peers; enhancing its digital capabilities to compete with new-age fintech players; expanding its presence in rural and semi-urban areas; and complying with the RBI’s norms on promoter shareholding and tenure.
Vaswani has expressed his excitement and honor to carry forward the legacy of Uday Kotak, who has built the bank into a world-class institution. He has also stated that he and his team will ensure that Kotak Mahindra Bank plays a meaningful role in India’s journey to being one of the top three economies in the world in the next five years, delivering shareholder value and social impact.
Biodata, Wiki
| Full Name | Ashok Valiram Vaswani |
| Date of Birth | 1960-1970 (exact date unknown) |
| Age | 62 years old (as of 2023) |
| Birth Place | Mumbai, India |
| Nationality | Indian |
| Religion | Hinduism |
| Caste | Sindhi |
| Marital Status | Married |
| Wife | Veena Vaswani |
| Children | One daughter (Anoushka Vaswani) |
| Education | Bachelor of Commerce, Economics and Accountancy from Sydenham College of Commerce and Economics (Bombay University) Chartered Accountant from the Institute of Chartered Accountants of India Company Secretary from the Institute of Company Secretaries of India; Executive Education from Stanford University Graduate School of Business |
| Profession | Banker |
| Current Position | President of Pagaya Technologies Ltd. |
| Incoming Position | Managing Director and Chief Executive Officer of Kotak Mahindra Bank |
| Previous Positions | Chief Digital Officer Global Consumer and Payments CEO Barclays UK CEO Barclays Africa CEO Barclays Cards Europe CEO at Barclays Group CEO of Citigroup Asia Pacific Member of Citigroup Global Operating and Management Committees at Citigroup |
| Net Worth | $58,391 USD (as per public asset declaration in 2018) |
| Homepage | newsunzip.com |
Trivia
- Ashok Vaswani is an avid reader and a fan of cricket.
- He also enjoys playing golf and bridge.
- He is passionate about education and the empowerment of the underprivileged.
- Vaswani supports several charitable causes, such as Pratham, which provides quality education to children in India; Lend-A-Hand, which offers vocational training to rural youth; and GiveIndia, which connects donors with verified nonprofits.
