Public lender Bank of Baroda has given one-year extension to Managing Director and Chief Executive Officer P S Jayakumar, as mentioned in an order issued by the Personnel Ministry.
Jayakumar had joined Bank of Baroda in October 2015. He is a chartered accountant by qualification.
His extension in tenure of Jayakumar for a period of one year is approved by the Appointments Committee of the Cabinet. His tenure is now valid until October 12, 2019, beyond his currently notified period of appointment of three years that expires on October 12, 2018, said the official communiqué.
Prior to joining Bank of Baroda as the MD and the CEO of the bank, he was the co-founder and CEO of VBHC Value Budget Housing (VBHC), a leading brand in offering housing for low and moderate income household.
He started his career as a banker in 1986 and has spent over 23 years in Citibank in India and Singapore.