Kundapur Vaman Kamath | |
|---|---|
_Annual_Board_of_Governors%25E2%2580%2599_Meeting%2c_in_New_Delhi_on_April_01%2c_2017_(Cropped).jpg) | |
| 1st Chair of theNew Development Bank | |
| In office 11 May 2015 – 27 May 2020 | |
| Preceded by | Office established |
| Succeeded by | Marcos Prado Troyjo[1] |
| Personal details | |
| Born | (1947-12-02)2 December 1947 (age 77) |
| Spouse | Rajalaxmi |
| Children | Ajay Kamath (son) Ajnya Kamath Pai (daughter) |
| Alma mater | NITK IIM Ahmedabad |
| Occupation | President ofNew Development Bank former Independent director atInfosys former Chairman ofICICI Bank |
| Awards | Padma Bhushan |
Kundapur Vaman Kamath is anIndianbanker andexecutive who is the current Independent Director and Non-Executive Chairman ofJio Financial Services[2] and the former chief of theNew Development Bank ofBRICS countries. He previously served as the Chairman ofInfosys Limited, and as the Non-Executive Chairman ofICICI Bank. Kamath also served as ICICI Bank's founder and Managing Director and CEO from 1 May 1996 until his retirement from executive responsibilities on 30 April 2009.[3]
Kamath took charge as the Chairman ofInfosys fromN. R. Narayana Murthy on 21 August 2011.[4] He remained Chairman till June 2015.[5] Before serving in this position, he was the Non-Executive Chairman of the company from 2 May 2011.
Kamath also serves as an independent director on the boards of the Houston-based oil services companySchlumberger since 2010, and the Indian pharmaceutical manufacturerLupin. He is also a member of the Board of Governors of thePandit Deendayal Petroleum University.[6]
Kamath was born on 2 December 1947 inMangalore,Karnataka State.[7] His family hails from the town ofKundapur in Karnataka, and his father's name was Vishwanath Kamath. His mother-tongue isKonkani and he also speaksTulu,Kannada andEnglish fluently. He spent most of his early years in Mangalore, and attended aKannada-medium government school.[8]
After matriculation, he completed his PUC (Pre-University), which at that time was only one year in length, atSt. Aloysius College. After completing his PUC, he joinedNational Institute of Technology Karnataka,Surathkal (known at that time as KarnatakaRegional Engineering College) for a bachelor's degree in Mechanical Engineering. After graduating from NIT Surathkal in 1969, he joined theIndian Institute of Management, Ahmedabad (IIM-A) for aPost Graduate Diploma in Management.[9]
After graduating fromIIM Ahmedabad in 1971, Kamath started his career withICICI (Industrial Credit and Investment Corporation of India) in the Project Finance division and moved on to different departments to gather experience, including establishing new business lines such as leasing, venture capital, and credit ratings as well as handling general management responsibilities. As part of his general management responsibilities, he initiated and implemented ICICI's computerisation program. Substantial investments in technology from those early years have resulted in systems that are today a competitive advantage for ICICI. Kamath has generally been credited with expanding ICICI's businesses to evolve it into a technology-enabled financial organisation catering to the financial needs of corporate and retail customers.[10]
In 1988, Kamath joined theAsian Development Bank, Manila in their Private Sector department.[11] His principal work experience at ADB was in various projects in China, India, Indonesia, Philippines, Bangladesh, and Vietnam. He was the ADB representative on the boards of several companies.[12]
In May 1996, Kamath returned to ICICI as its managing director and chief executive officer. Kamath was instrumental in expanding the Group's services to the retail customers. He initiated a process of a series of acquisitions of non-banking finance companies in 1996–98 and led the way to the formation ofICICI Bank.
On 2 May 2011, he was appointed as Non-Executive Chairman of the second-largest software exporter,Infosys Ltd. (earlier Infosys Technologies Ltd.).[13]
He currently is a Lead independent director at Infosys[14] after having stepped down from chairmanship to make way forN. R. Narayana Murthy. He is designated to be non-executive chairman of Infosys Board, effective 11 October 2014.[15]After being appointed as the first chief of theNew Development Bank set up by the BRICS, he went on to step down from this post of Chairman and Independent Director effective 5 June 2015.[16]
He is appointed as the Chairman of the newly constituted development finance institution National Bank for Financing Infrastructure and Development (NaBFID).[17]
He is also the Chairman and Independent Director of Jio Financial Services Limited.[18]
Kamath is a member of the Governing Boards of several educational institutions, including theIndian Institute of Management Ahmedabad,Indian School of Business,National Institute of Bank Management,Pandit Deendayal Petroleum University, Gandhinagar and theManipal Academy of Higher Education. He was the Chairman of Governing Board atIndian Institute of Management Indore, until his appointment to the New Development Bank of BRICS countries. Deepak Satvalekar replaced him.[19]
Kamath is also a member of the National Council ofConfederation of Indian Industry (CII).
He also serves on the boards ofSchlumberger, Houston-based oil services company, andLupin, an Indian pharmaceutical manufacturer.
Kamath, 72, was the non-executive Chairman of the ICICI bank beside Chairman of the IT bellwether Infosys before joining the NDB.
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