Tamilnad Mercantile Bank (TMB), one of the renowned Old Private Sector Banks, is pleased to announce that Mr.Salee S Nair has assumed charge as the new Managing Director & Chief Executive Officer (MD&CEO) of the Bank effective from August 29, 2024.
"I am pleased and honored to take on the role of MD&CEO at such a crucial juncture for Tamilnad Mercantile Bank and the banking industry at large, which got huge potential and offers lot of opportunities. I look forward to working closely with all our stakeholders to continue driving value for our customers, shareholders, employees and other stakeholders, while upholding the highest standards of governance, transparency and corporate responsibility," said Mr Salee.
With over 37 years of experience in the banking and financial services industry, Mr.Salee brings a wealth of knowledge and a proven track record of success to TMB. Prior to this appointment, he served as Deputy Managing Director & Chief Credit Officer at State Bank of India.
Mr.Salee is a post graduate in Applied Electronics, started his banking career in the year 1987 when he joined India’s largest Public sector Bank, State Bank of India as a Probationary Officer.
During the last 37 years, Mr.Salee has handled various assignments, mostly in the Corporate A/c Group, handling large Corporates. He also had two assignments in the International Banking group of SBI, first at New York, USA and later heading the Australian Operations based at Sydney. He has also had a retail stint managing the branches of Rajasthan & Western Uttar Pradesh for the bank and was involved in the merging of State Bank of Bikaner & Jaipur with SBI.
Mr.Salee has extensive experience in managing stressed assets, He took over as Chief General Manager in the Stressed Asset Vertical of the Bank in July 2017, where he was engaged in resolving NPA through the restructuring / IBC /Compromise/ ARC Sale route.
In April 2020 Mr.Salee took over as the Stressed Assets Resolution Group as Deputy Managing Director, a position he held until September 2021. Subsequently, he took over as Deputy Managing Director in-charge of SME, Agriculture and Financial Inclusion vertical from September’21 to July’22.
His last assignment was as DMD and Chief Credit Officer of SBI, till May’24 and was responsible for managing the credit portfolio.