Kotak Mahindra Bank has informed stock exchanges that its Chief Technology Officer (CTO), Bhavnish Lathia, has resigned from his role due to personal reasons. The bank said its board accepted his resignation on February 9, 2026, which was also his last working day. Lathia had assumed the CTO position in March 2025.

In a regulatory filing, the bank stated that Lathia, a member of its senior management, is relocating to the United States for personal reasons. His exit comes less than a year after taking charge and marks the second leadership change in the bank’s technology function within a short span.

Lathia had succeeded Milind Nagnur, a Silicon Valley veteran who stepped down as CTO in January 2025 after serving a little over two years. The back-to-back exits highlight a period of transition in Kotak Mahindra Bank’s technology leadership at a time when banks are sharply increasing investments in digital infrastructure and customer-facing platforms.

Following the disclosure, Kotak Mahindra Bank shares were trading higher. The stock was up Rs 3.35 or 0.78% at Rs 432.10. It opened at Rs 432, touched an intraday high of Rs 432.10 and a low of Rs 428.80. The previous close was Rs 428.75. The stock’s 52-week high stands at Rs 460.31, while the 52-week low is Rs 378.98. The volume-weighted average price was Rs 430.23.

Alongside the resignation announcement, the bank also disclosed the appointment of Nilesh Chaudhari as its new Chief Technology Officer.

Who is Bhavnish Lathia?

Bhavnish Lathia, known as “Nish” among colleagues, has been associated with Kotak Mahindra Bank since 2022 and brings over 25 years of global experience across technology, product, and customer-centric roles.

He joined the bank as Chief of Customer Experience and Head of Technology for the Consumer Bank, where he oversaw service quality and customer experience across channels. After nearly three years in that role, he was elevated to Chief Technology Officer in March 2025.

Prior to joining Kotak, Lathia spent close to 18 years at Amazon, working across ecommerce, product management, marketing, engineering, and analytics, with a strong focus on customer experience. After Amazon, he served as Chief Product Officer at Valo Health, overseeing engineering, machine learning, and product management.

His resignation comes shortly after reports that Kotak Mahindra Bank was planning to hire around 500 engineers from large technology firms, a process in which Lathia reportedly played a key role.