2 hrs ago
HDFC Bank Names Anup Bagchi Managing Director and CEO
HDFC Bank has chosen Anup Bagchi to be its new top leader.
He will first become an Additional Director on October 2, 2026.
He will officially become Managing Director and CEO on October 27.
His planned term will last three years.
Shareholders still need to approve the appointment.
The change comes after the previous leader, Jagdishan, left amid attention on governance issues.
The reports differ slightly on whether his departure is described as a resignation or the end of his tenure.
HDFC Bank’s American depositary receipt, or ADR, rose 5.5% after the news.
Anup Bagchi has been appointed Managing Director and CEO of HDFC Bank.
He will join HDFC Bank as an Additional Director on October 2, 2026.
Bagchi will take charge as MD and CEO on October 27, 2026.
His three-year term is scheduled to run through October 26, 2029, subject to shareholder approval.
The leadership change follows heightened governance scrutiny and the departure of predecessor Jagdishan; HDFC Bank’s ADR rose 5.5% after the announcement.
- Who
- Anup Bagchi has been appointed by the HDFC Bank board as Managing Director and CEO, succeeding Jagdishan.
- What
- HDFC Bank announced a change in its top leadership and appointed Bagchi for a three-year term, subject to shareholder approval.
- Where
- HDFC Bank, described in the reports as India’s largest private lender.
- When
- Bagchi becomes an Additional Director on October 2, 2026, and takes charge as MD and CEO on October 27, 2026; his term is scheduled to end October 26, 2029.
- Why
- The appointment follows the departure of the predecessor amid heightened scrutiny over governance issues.
Key facts
- Appointee
- Anup Bagchi
- Position
- Managing Director and Chief Executive Officer, HDFC Bank
- Additional Director date
- October 2, 2026
- MD and CEO start date
- October 27, 2026
- Scheduled term
- Three years, through October 26, 2029
- Approval condition
- Subject to shareholder approval
- Market reaction
- HDFC Bank ADR rose 5.5% after the announcement
Sources
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