HDFC's New CEO: Who Is Anup Bagchi? The ICICI Veteran Set to Take Charge at India's Largest Private Lender
The RBI approved Bagchi’s appointment after HDFC Bank said he will serve a three-year term and replace Sashidhar Jagdishan.
- On Thursday, the Reserve Bank of India approved Anup Bagchi as HDFC Bank's Managing Director and Chief Executive Officer for a three-year term effective October 27, 2026.
- Bagchi will succeed Sashidhar Jagdishan, who completes his tenure on October 26, marking his return to banking after three years leading ICICI Prudential Life Insurance.
- A 55-year-old financial veteran, Bagchi holds degrees from IIT Kanpur and IIM Bangalore and joined the ICICI Group in 1992, accumulating over three decades in financial services.
- Beyond the CEO role, HDFC Bank also appointed Bagchi as Additional Director of Bank effective October 2, pending shareholder approval under the Companies Act.
- The RBI's approval followed rigorous review, with regulators seeking feedback from ICICI Bank CEO Sandeep Bakhshi on Bagchi's transition back to mainstream banking after his insurance stint.
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The names of the new CEO and MD of HDFC Bank have been announced, and they will take charge on October 27. They are currently associated with the ICICI Group.
HDFC Bank Appoints Anup Bagchi as MD and CEO From October 27 for 3-Year Term
HDFC Bank has appointed Anup Bagchi as its new Managing Director and Chief Executive Officer for a three-year term beginning October 27, 2026, marking a key leadership transition at India’s largest private-sector lender. The appointment follows approval from the Reserve Bank of India (RBI), the bank said in a regulatory filing on Thursday. HDFC Bank Appoints Anup Bagchi as MD and CEO From October 27 for 3-Year Term.
The Economic Times
Times of IndiaHDFC's new CEO: Who is Anup Bagchi? The ICICI veteran set to take charge at India's largest private lender
Anup Bagchi has been appointed managing director and CEO of HDFC Bank, effective October 27, 2026. He transitions back to banking after a three-year stint at ICICI Prudential Life Insurance. Bagchi's extensive experience spans various roles in retail, corporate, and investment banking sectors. The Reserve Bank of India approved his appointment and he will also become an additional director at the bank.
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