Union Bank's Mundra appointed BoB Chairman

NEW DELHI/MUMBAI: The Finance Ministry today cleared the name of Union Bank Executive Director S S Mundra as the new Chairman and Managing Director of Bank of Baroda, sources said.

For the 58-year-old Mundra, this is a second home-coming as he started off his career with Bank of Baroda.

When contacted, Mundra confirmed the development and said he will be taking over charge later this evening itself.

"It is a great legacy of the bank (BoB) and it is special for me as this is my parent bank," he told PTI.

Prior to joining Union Bank, Mundra was the chief executive for BoB's European operations based in London.

Mundra, who joined BoB as a directly recruited officer in 1977, has held various posts within the bank, right from branch manager to heading treasury operations.

A Master's in Commerce, Mundra is also a certified associate of Indian Institute of Banking and Finance and fond of reading on leadership and banking.