HDFC Bank names former ICICI chief Anup Bagchi as CEO to succeed Jagdishan on Oct. 26, 2026
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HDFC Bank named former ICICI MD & CEO Anup Bagchi as the next CEO, set to succeed Sashidhar Jagdishan when his term ends in Oct 2026. The transition comes amid governance overhangs (fines, a US securities class action) and weaker fundamentals, including a reported 27% share drawdown from recent highs and net interest margin compression. Near-term market focus should be on execution and regulatory perception.
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HDFC Bank said it has appointed former ICICI managing director and CEO Anup Bagchi as its next chief executive, succeeding Sashidhar Jagdishan when his term ends on Oct. 26, 2026. Jagdishan’s tenure included the bank’s 2023 merger with its parent and other controversies, including fines on senior executives and a U.S. securities class action lawsuit. Bagchi takes over with the stock down 27% from its end-of-last-year high and net interest margins easing to 3.34% in March 2026 from 4.1% in 2023.
