Less than a year after assuming the role, Bhavnish Lathia has stepped down as chief technology officer (CTO) of Kotak Mahindra Bank, citing personal reasons and renewing concerns over leadership continuity within the private lender’s technology function.
Lathia had succeeded Silicon Valley veteran Milind Nagnur, who resigned in January 2025 after serving just over two years in the position. The latest departure marks yet another transition in a role that has witnessed notable churn in recent years.
In his resignation letter addressed to managing director Ashok Vaswani, Lathia confirmed his decision to relocate to the United States for personal reasons.
“The technology leadership team is stable, mature and ready for broader responsibilities,” he wrote. “There is never a good time to resign, but I feel this is the best time for me to step off the stage and let the next generation of technology leaders take centre stage.”
In response to the vacancy, Kotak Mahindra Bank has appointed Nilesh Chaudhari as its new CTO. Aravamudham (Vijay) Narayanan will assume the role of head of innovation and artificial intelligence, signalling the bank’s continued emphasis on digital transformation and emerging technologies.
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Lathia’s departure forms part of a broader pattern of senior-level exits and transitions at the bank over the past few years. In July 2024, consumer banking head Virat Diwanji superannuated. Shortly thereafter, in January 2025, Ambuj Chandna, head of consumer banking assets, resigned to join DBS Bank as its consumer banking head, while Nagnur relinquished his post to relocate to the United States.
Earlier changes included the exit of Phani Shekhar, head of credit, in April 2024, and the retirement of Shanti Ekambaram, one of the institution’s longest-serving and most influential executives, in late 2025.
The succession of leadership changes underscores a period of recalibration at Kotak Mahindra Bank, even as it seeks to maintain strategic momentum across its technology and consumer banking verticals.
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