Spurning his family's trading business, Uday Kotak started a finance firm in 1985 then went on to convert it into a bank in 2003. His Kotak Mahindra Bank is now among India's top four banks in... Uday Kotak today announced his departure from Kotak Mahindra Bank as the managing director (MD) and the chief executive officer (CEO) effective September 1, 2023. Kotak Mahindra Bank 's founder Uday Kotak on Saturday stepped down as the Managing Director and Chief Executive Officer of the bank with immediate effect. Kotak was due to retire on December 31, 2023. The 64-year-old skilled banker had started his journey in the 80s. Uday Kotak is an Indian philanthropist, banker, and businessman who is the owner of the banking and financial services company Kotak Mahindra Bank. In 2023, he was ranked as the third-richest banker in the world and the richest banker in India.
