HDFC Bank Names Anup Bagchi as New CEO
HDFC Bank has appointed Anup Bagchi as its new MD and CEO. He takes charge from October 27, 2026.
The board approved a three-year term ending October 26, 2029. The Reserve Bank of India approved the appointment on October 1 under Section 35B.
Bagchi succeeds Sashidhar Jagdishan. Jagdishan’s term ends on October 26 and he did not seek reappointment.
Bagchi joined as Additional Director on October 2. He is the bank’s first externally sourced CEO.
He spent decades with the ICICI group. He was Executive Director of ICICI Bank from 2017 to 2023. He then led ICICI Prudential Life Insurance as MD and CEO.
He has also headed ICICI Securities. Analysts see the move as a smooth leadership transition.
Jefferies has a Buy rating on the stock with a target of Rs 880. The bank’s shares were steady after the announcement. Bagchi’s appointment marks the first time HDFC Bank has named an external CEO.
Sources:
- https://flashfinance.news/article/2752-india-daybook-stocks-in-news-october-6-2026
- https://www.thehindubusinessline.com/companies/anup-bagchi-appointed-as-md-ceo-of-hdfc-bank-from-october-27/article71545090.ece
- https://www.reuters.com/business/finance/hdfc-bank-names-anup-bagchi-next-chief-executive-2026-10-06/
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