Tamilnad Mercantile Bank Appoints Salee S. Nair as New MD & CEO

Salee S. Nair Brings Over 35 Years of Diverse Banking Experience, Including Expertise in Corporate, International, and Stressed Asset Management

BILKULONLINE

Chennai, Ahmedabad, Aug 17: Tamilnad Mercantile Bank (TMB) is delighted to announce the appointment of Mr. Salee S. Nair as the new Managing Director & Chief Executive Officer (MD & CEO) of the bank. Nair’s appointment is for a term of three years, commencing from the date of his joining.

In a statement about his new role, Nair expressed his enthusiasm: “I am honored to take on this role at such a pivotal time for Tamilnad Mercantile Bank. I look forward to working closely with the Board, the management team, and all employees to build on the strong foundation laid by my predecessors and to drive the bank’s strategic priorities forward.”

Bringing over 35 years of experience in the banking and financial services industry, Nair has a distinguished career marked by significant achievements. Prior to joining TMB, he served as Deputy Managing Director & Chief Credit Officer at State Bank of India (SBI). His extensive career at SBI included handling major corporate accounts, including those of Reliance and Essar, and leading international operations in New York and Sydney. He also managed retail banking branches across Rajasthan and Western Uttar Pradesh and played a key role in the merger of State Bank of Bikaner & Jaipur with SBI.

Nair’s expertise extends to managing stressed assets. He led the Stressed Asset Vertical as Chief General Manager and later as Deputy Managing Director of the Stressed Assets Resolution Group. His leadership in resolving non-performing assets (NPAs) through restructuring, IBC, compromise, and ARC sale routes has been instrumental. His last role involved overseeing the credit portfolio as DMD and Chief Credit Officer at SBI until May 2024.

A post-graduate in Applied Electronics, Nair began his career with SBI in 1987 as a Probationary Officer. His vast experience and proven track record make him well-equipped to lead Tamilnad Mercantile Bank into its next phase of growth and development.

TMB looks forward to leveraging  Nair’s extensive experience and strategic vision to continue its tradition of excellence and innovation in the banking sector.