One of the most well-known members of the legal profession and experienced corporate governors has been appointed to the post of Chairman of the Auckland based Bank of India New Zealand (BOINZ) Limited.
Rabin Rabindran, a commercial barrister and international legal consultant associated with a number of national and global projects of prestige and significance will lead the Bank, which has just celebrated its second anniversary.
Bank of India is one of the largest nationalised banks in India. BOINZ is its fully-owned subsidiary with a locally appointed board.
Former Reserve Bank of India Governor Dr Alan Bollard inaugurated the Bank and its first branch at 10 Manukau Road, Epsom on October 6, 2011 (Indian Newslink, October 15, 2011). The Bank is scheduled to open its second branch in the South Auckland suburb of Papatoetoe shortly.
Mr Rabindran was appointed to the BOINZ Board as a Director earlier this year (see our August 1, 2013 issue), along with Patton Limited Global Chief Executive Sameer Handa, to take the Bank to higher standards of excellence and governance.
He succeeds Tarun Kanji, who will continue as a Director on the Board.
Mr Rabindran has had extensive experience at the World Bank, several governments, state corporations, local authorities and other governmental and non-governmental agencies, all of which would be useful in his new role. He has also worked on major national and international projects in the fields of energy, construction, infrastructure development and transport in New Zealand and in over 25 other countries.
He was Chairman of the Auckland Regional Transport Authority and is currently a Director of Auckland Transport. He chaired the Rugby World Cup Regional Transport Forum, the 2012-2015 Regional Land Transport Programme Public Hearings Panel as well as the Election Signs Bylaw Public Hearings Panel.
He was also Director, MBf Carpenters Limited, an Australian public company, Manukau Water Limited, Tomorrow’s Manukau Properties Limited and TMPL (Flat Bush) Limited.
BOINZ Managing Director Nageshwar Rao Paladugu said that Mr Rabindran has already made his mark as a Director and that he was looking forward to the contribution and impact that he would make in his role as Chairman.
Mr Handa said that he was pleased with the appointment.
“It has been a pleasure working with Mr Rabindran over the past few months and I am sure that the Bank will achieve significant milestones under the Chairmanship,” he said.
Bank of India accounts for more than 50 million customers served by about 4500 branches in India. Is overseas presence in 20 other countries, spread over the five Continents, accounts for 53 offices including four subsidiaries, four representative offices and a joint venture at the key banking and financial centres of Tokyo, Singapore, Hong Kong, London, Jersey, Paris and New York.
Quoting a recent KPMG Report, Mr Rabindran said that Indian banking is projected to become the fifth largest in the world by 2020 and the third largest by 2025.