Two Anups, two IIT-IIM alumni: HDFC Bank, Kotak Mahindra get new CEOs
Two private banks, HDFC Bank and Kotak Mahindra Bank, announced the appointment of new CEOs named Anup on Thursday. Both individuals are veterans of ICICI Bank, IIT-IIM alumni, and share the same age and background. Anup Bagchi will become the new MD & CEO of HDFC Bank starting October 27, 2023, succeeding Sashidhar Jagdishan, while Anup Kumar Saha will lead Kotak Mahindra Bank from January 1, 2027, replacing Ashok Vaswani.
Bagchi will be the first outsider to lead HDFC Bank since its establishment in 1994 and will focus on loan growth, credit-deposit dynamics, and extracting synergies from the HDFC merger. Saha, currently a whole-time director at Kotak, has over 32 years of experience and will steer the bank towards sustainable growth.
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