The government on Monday appointed Sudhir Kumar Jain as the new chairman and managing director of Syndicate bank. Jain will now be at the helm of the public sector bank for a period of five years from the date of taking charge or until further orders, whichever is earlier.

In the last two and half decades of his banking career, Jain has served as a general manager of Dena bank and an executive director in Bank of Baroda. A qualified chartered accountant, he has rich knowledge of the banking industry having served in treasury operations, international division, accounts department, retail banking and investor relations. He started his banking career as a credit manager in Dena Bank in June 1987.

While the government has named a new CMD for Syndicate bank, Corproation bank and IDBI have been working for many months now without a full-fledged CMD.