Tamilnad Mercantile Bank announces Appointment of Mr.Salee S Nair as new MD & CEO

Tamilnad Mercantile Bank announces Appointment of Mr.Salee S Nair as new MD & CEO

NATIONAL – Tamilnad Mercantile Bank (TMB), one of the renowned Old Private Sector Banks, is pleased to announce the appointment of Mr.Salee S Nair as the new Managing Director & Chief Executive Officer (MD&CEO), for 3 years from the date of his joining the Bank.

Commenting on his appointment, Mr.Salee said: “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.”

With over 35 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 35 years, Mr.Salee has handled various assignments, mostly in the Corporate A/c Group, handling large Corporates including the disparate groups of Reliance (Mukesh Group) and Essar Group. 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.

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