At 55, Bagchi has built a career spanning more than three decades in financial services. He joined the ICICI Group in 1992 and has held senior roles across banking, capital markets, wealth management and insurance
FinTech BizNews Service
Mumbai, 01 October, 2026: HDFC Bank has appointed former ICICI Bank executive Anup Bagchi as its next Managing Director and Chief Executive Officer (MD and CEO), with the Reserve Bank of India (RBI) approving his appointment for three years.
Bagchi will take charge from 27 October 2026, following the completion of Sashidhar Jagdishan’s tenure as HDFC Bank’s MD and CEO on 26 October.
Mr Bagchi’s three-year term will run from 27 October 2026 to 26 October 2029, subject to shareholder approval. The RBI approved his appointment and remuneration on 1 October under Section 35B of the Banking Regulation Act, 1949.
HDFC Bank’s board has also appointed him as an additional director with effect from 2 October, subject to shareholder approval.
At 55, Bagchi has built a career spanning more than three decades in financial services. He joined the ICICI Group in 1992 and has held senior roles across banking, capital markets, wealth management and insurance.
His professional experience covers treasury, retail banking, wholesale banking, investment banking, capital markets and digital financial services.
Bagchi spent six years as an executive director at ICICI Bank from 2017 to 2023. He initially looked after the bank’s retail, business and rural banking operations and later moved to the wholesale banking business.
Bagchi also took charge of ICICI Securities as its managing director and CEO. He moved to ICICI Prudential Life Insurance in June 2023 as managing director and CEO, adding the insurance business to a career that has spanned several parts of the financial services sector.
