Mumbai, April 4: Kotak Mahindra Bank today elevated T.V. Raghunath as head of Kotak Mahindra Capital Company (KMCC), its corporate and investment banking arm.

Raghunath, managing director and chief executive, will continue to oversee investment banking, and report to K.V.S. Manian, bank president for corporate, institutional and investment banking.

S. Ramesh, who is joint managing director, has been elevated to replace Raghunath. Sourav Mallik, senior executive director and head of mergers and acquisitions, will replace Ramesh, while the equities business will be headed by V. Jayasankar.