OREANDA-NEWS. Mr Rajnish Kumar has been appointed as the Managing Director & Chief Executive Officer of SBI Capital Markets Limited (the Merchant Banking arm of State Bank of India) effective, 31st July 2014. Prior to this, he was heading the Project Finance and Leasing SBU of the State Bank of India as the Chief General Manager.

Mr Kumar replaces Mr V.G. Kannan, who has been elevated as Managing Director & Group Executive (Associates & Subsidiaries), State Bank of India, earlier this month.

Mr Kumar has been with the State Bank of India for over three decades, having joined the Bank as a Probationary Officer in 1980. An M.Sc. in Physics, apart from CAIIB, Mr Kumar has held several key assignments across various business verticals, including two overseas assignments in Canada and U.K. He has vast experience in handling large credit, project finance, foreign exchange and retail banking. Mr Kumar has held such important positions as Dy. General Manager, Pune Zone; General Manager (NW-II), Mumbai; Regional Head, SBI(UK); Chief General Manager, North East Circle.