Anup Bagchi is new HDFC Bank Managing Director, CEO; predecessor resigned amid spotlight on governance

Mumbai: HDFC Bank has announced Anup Bagchi as its new Managing Director and Chief Executive Officer, starting a three-year term from October 27, 2026. This marks a significant leadership change at the private sector bank. Bagchi succeeds Sashidhar Jagdishan, whose tenure ends on October 26. The Reserve Bank of India has approved Bagchi's appointment for three years, following a Board of Directors' meeting on October 1.

Bagchi will join the bank's board as an Additional Director from October 2. His appointment, including remuneration, complies with RBI's requirements. Bagchi, currently the Managing Director and CEO of ICICI Prudential Life Insurance, will replace Jagdishan, who announced he wouldn't seek another term after his current tenure ends.