Punjab National Bank (PNB) has a new non-executive Chairman in CA.Sunil Mehta.

The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services (DFS) for the appointment of Mehta as non-executive Chairman of PNB, official sources said.

He has been appointed for a period of three years. The only condition is that he would be required to resign from the board of State Bank of India before joining the board of Punjab National Bank.

A Fellow Chartered Accountant from the Institute of Chartered Accountants of India and an alumni of the Wharton School of Management, USA, Mehta is currently Chairman & Managing Director at SPM Capital Advisors Pvt Ltd.

Mehta has over 33 years of leadership experience in banking, insurance, financial services and investments with Citibank and AIG.

As Country Head of AIG for 13 years, Mehta was responsible for setting up in India and overseeing 10 businesses covering life & non-life insurance, private equity, asset management, real estate, home and consumer finance, software development, mortgage guaranty and aircraft leasing.

Mehta worked at Citibank for 18 years in various senior positions, which included head of the corporate bank in India and senior credit officer. #casansaar (IndianExpress)