Subbaiah to take over as managing director of Centurion Bank
Mumbai: Mr. M G Subbaiah, who is currently with ICICI and has over 32 years of experience in the financial services sector, will take over as the new managing director of Centurion Bank, from August 1, 2000. He started his career in State Bank of India in 1968 and after 26 years of service in various capacities both in India and abroad, he joined the erstwhile SCICI as executive director in 1994. He has been working with ICICI since 1997, following the merger of SCICI with ICICI.

He takes over from Mr. V. S. Srinivasan, who will move back to TCFC Finance and assume responsibilities at the group level. Mr. Srinivasan, who has been associated with the bank since its inception, as a member of the board, took over as interim managing director in early 1999 following the retirement of Mr. Ashish Sen. He will now be closely associated with the TCFC group’s activities in the stock broking and insurance businesses.

Centurion Bank has taken on various technology initiatives and recently signed an agreement with Logica plc of the United Kingdom to jointly develop banking products. The bank is also beginning to expand its activities and has been expanding its branch and off-site ATM network.
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Kumar Mangalam Birla takes over as Indal chairman
Calcutta: Completing the total take over of the erstwhile multinational company, Indal Limited, the AV Birla group today announced that Mr. Kumar Mangalam Birla was inducted as the new chairman of the Indal board of directors. Mr. A. Agarwala, president and wholetime director, Hindalco -- and a long time Birla hand -- has been named the vice-chairman.

Apart from these, Mr. Santrupt Misra, president, A V Birla group’s human resources division and Mr. B L Shah, director, Indian Rayon were inducted in the newly-constituted board.

Mr. Shailendra Kumar Tamotia takes over as the new chief executive officer of Indal.
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