Anup Bagchi Named HDFC Bank MD and CEO
HDFC Bank has appointed Anup Bagchi as its next Managing Director and Chief Executive Officer for a three-year term beginning October 27, 2026, following approval from the Reserve Bank of India and the bank’s board.
Anup Bagchi to Lead HDFC Bank From October 27
Bagchi will succeed Sashidhar Jagdishan, whose term ends on October 26 after he informed the board that he would not seek another term.
The bank has also appointed Bagchi as an Additional Director with effect from October 2, subject to applicable shareholder approvals.
His appointment marks a significant leadership transition at India’s largest private-sector lender.
ICICI Veteran Brings Three Decades of Experience
Bagchi is currently Managing Director and CEO of ICICI Prudential Life Insurance and has spent more than three decades across banking, insurance, capital markets and wealth management.
He has been associated with the ICICI Group since 1992 and has previously held senior leadership roles at ICICI Bank and ICICI Securities.
An alumnus of IIT Kanpur and IIM Bangalore, Bagchi has extensive experience across retail banking, corporate banking, digital transformation and financial services.
HDFC Bank Enters New Leadership Phase
Bagchi takes charge at a time when HDFC Bank is navigating a major post-merger transition following its integration with HDFC Ltd.
The bank is focused on strengthening deposit growth, improving margins, expanding digital capabilities and maintaining momentum across retail and corporate banking.
His appointment is also notable because he becomes the first external candidate to lead HDFC Bank, bringing experience from one of its largest private-sector rivals.
