Lakshmi Vilas Bank announced the appointment of Rakesh Sharma as managing director and CEO of the bank. Sharma, who was CGM at the State Bank of India will take over from K.S.R. Anjaneyulu, who was holding interim charge of MD and CEO of the bank. He has stepped down from the position. Sharma’s last assignment in SBI has been handling the Patna Circle, comprising two states of Bihar and Jharkhand. He has been with the SBI for 33 years heading different departments – both domestic as well as international. He is an expert in retail and wholesale banking, asset liability management, loan syndication, trade finance and personnel development. He has also administered banking operations for International Banking Group (IBG) encompassing consolidation of balance sheets for all the foreign offices of the bank. While posted at Tokyo, he was in charge of overall functioning of SBI branches in Japan. Issuing a statement on the appointment of Sharma, Lakshmi Vilas Bank said Anjaneyulu demitted office as interim MD and CEO on 7 March 7 and Sharma has assumed office.