HDFC Bank and Kotak Mahindra Bank have announced changes in their top leadership, with both lenders naming new Managing Directors and CEOs.
HDFC Bank has appointed Anup Bagchi as its next MD and CEO after receiving approval from the Reserve Bank of India. Bagchi, who currently heads ICICI Prudential Life Insurance as MD and CEO, will take charge on October 27, 2026.
He will succeed Sashidhar Jagdishan, whose tenure ends on October 26. Jagdishan has decided not to seek another term.
Meanwhile, Kotak Mahindra Bank has named Anup Kumar Saha as its new MD and CEO. His three-year term will begin on January 1, 2027.
Saha is currently an Executive Director at Kotak Mahindra Bank and has more than 32 years of professional experience, including 25 years in financial services. He joined the bank in January 2026 and has since managed several functions.
The HDFC Bank board approved Bagchi’s appointment at its meeting on October 1, based on the recommendation of the Governance, Nomination and Remuneration Committee.
