Mumbai [India], October 1 (ANI): HDFC Bank has appointed Anup Bagchi as its Managing Director and Chief Executive Officer for a three-year term from October 27, 2026, after receiving approval from the Reserve Bank of India (RBI), the private sector lender said in a stock exchange filing on Thursday.
The appointment will mark a leadership transition at HDFC Bank, with incumbent MD and CEO Sashidhar Jagdishan set to complete his tenure at the close of business on October 26, 2026.
HDFC Bank said the RBI approved Bagchi's appointment as MD and CEO as well as the remuneration payable to him under Section 35B of the Banking Regulation Act, 1949.
Following the RBI approval, the bank's board approved Bagchi's appointment as MD and CEO for three years from October 27, subject to shareholder approval. It also appointed him as an Additional Director with effect from October 2.
Bagchi's term as MD and CEO will run until October 26, 2029.
He currently serves as Managing Director and CEO of ICICI Prudential Life Insurance and has more than three decades of experience across banking, capital markets, wealth management and insurance.
Bagchi has been associated with the ICICI Group since 1992 and previously served as Executive Director of ICICI Bank from 2017 to 2023. He has also served as CEO and MD of ICICI Securities.
He has been heading ICICI Prudential Life Insurance since June 2023. Bagchi holds a management degree from the Indian Institute of Management Bangalore and an engineering degree from the Indian Institute of Technology Kanpur. (ANI)
HDFC Bank appoints Anup Bagchi as MD & CEO for three years; RBI gives approval
