Union Bank of India has informed the Exchange regarding Change in Director(s) of the company.
UNIONBANK · price
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On the reaction day the stock moved 0.8 pts less than Nifty 100 and 0.1 pts more than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Union Bank of India has appointed Shri Asheesh Pandey as its new Managing Director and Chief Executive Officer, effective 30th September 2025. The appointment was made by the Central Government through an official notification under the Banking Companies Act, 1970. Mr. Pandey will serve a three-year term or until further orders, whichever is earlier. He brings over 27 years of banking experience, having previously served as Executive Director at Bank of Maharashtra and as Chief General Manager at Union Bank of India. He is a Mechanical Engineer, an IIM Bangalore alumnus, and has expertise in credit, treasury, digital banking transformation, and merger integration.
A familiar face returning to lead the bank is broadly seen as a continuity-positive move for shareholders. The appointment removes leadership uncertainty and may support strategic stability, though the market typically views government-led PSU bank CEO changes as neutral to mildly positive depending on the appointee's track record.