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HDFC Bank Shares Rise as Anup Bagchi Emerges as Frontrunner for CEO Post
M
Moneycontrol•22-09-2026, 09:39
HDFC Bank Shares Rise as Anup Bagchi Emerges as Frontrunner for CEO Post
- •HDFC Bank shares gained for a second consecutive day following reports of progress in the search for a new MD and CEO.
- •Anup Bagchi, current MD and CEO of ICICI Prudential Life Insurance, is reportedly the frontrunner, with RBI seeking feedback on his candidature.
- •Bagchi, 55, previously served as an executive director at ICICI Bank, overseeing wholesale banking, transaction banking, markets, and proprietary trading.
- •The succession process is critical as incumbent MD and CEO Sashidhar Jagdishan's term ends on October 26, and he will not seek re-election.
- •HDFC Bank submitted two candidates to the RBI; Kaizad Bharucha is the other, but his tenure could face regulatory complications due to RBI's 15-year ceiling.
Key Questions Answered
Anup Bagchi, currently the MD and CEO of ICICI Prudential Life Insurance, has emerged as the frontrunner for HDFC Bank's top job. The Reserve Bank of India has begun seeking feedback on his candidature from relevant regulators and officials.
Incumbent MD and CEO Sashidhar Jagdishan's term ends on October 26 after he informed the board that he would not seek another term.
HDFC Bank submitted two candidates to the RBI for a three-year term: Anup Bagchi and HDFC Bank deputy managing director Kaizad Bharucha.
