Anup Bagchi appointed as new MD and CEO of HDFC bank. He was earlier working in ICICI bank and is considered to be a veteran in digital banking and fintech scale.
The present MD and CEO Sashidhar Jagdishan’s tenure ends on October 26. Anup Bagchi has joined as the Additional Director from October 2, that is today.
In an official press release HDFC bank wrote, Mr. Anup Bagchi is a seasoned financial services leader with over three decades of experience across banking, capital markets, wealth management and insurance. A member of the ICICI Group since 1992, he has built a diverse career spanning treasury, retail banking, wholesale banking, investment banking, and digital financial services.
Under his leadership, ICICI Bank became the first private-sector bank in India to surpass a retail mortgage portfolio of Rs. 2 trillion and successfully navigated the demonetisation period with limited business disruption.
Alongside his executive responsibilities, he served as Chairman of ICICI Prudential Asset Management Company until May 2023. Then he was a Director of ICICI Prudential Pension Funds Management Company and ICICI Home Finance.
Since June 2023, Mr. Bagchi has been serving as MD & CEO of ICICI Prudential Life Insurance, leading one of India’s largest private life insurers, which is publicly listed.
Under his leadership, the company crossed Rs. 10,000 crore in Annualised Premium Equivalent (APE) for the first time in FY2025, with APE growing 15% year-on-year to Rs. 10,407 crore and profit after tax increasing nearly 40% to Rs. 1,189 crore.
Mr. Anup Bagchi holds Management degree from Indian Institute of Management, Bangalore and an Engineering degree from Indian Institute of Technology, Kanpur.
