Bagchi, an ICICI Group veteran, is the first outsider to head HDFC Bank in its over-three-decade history (Photo: Kamlesh Pednekar)
Country's largest private sector lender HDFC Bank on Tuesday said that Anup Bagchi has taken charge as its managing director and chief executive.
His predecessor, Sashidhar Jagdishan, vacated office on Monday after the completion of his term, the bank informed exchanges.
Bagchi, an ICICI Group veteran, is the first outsider to head HDFC Bank in its over-three-decade history. His previous assignment was as the MD and CEO of ICICI Prudential Life Insurance.
He joins HDFC Bank at a time when the lender is battling a slew of challenges, including ones on core income growth and margins, which have made investors wary.