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ICICI Bank names executive director to head retail business

Anup BagchiICICI Bank Limited approved the appointment of Anup Bagchi, managing director & CEO, ICICI Securities Limited, as executive director of the bank.

Mr. Bagchi will take over as the Head of Retail Banking effective November 1, 2016. His appointment to the Board will be effective from February 1, 2017, or the date of regulatory approval of his appointment, whichever is later.

Mr. Bagchi joined ICICI Limited in 1992. Over the last 24 years, he has worked in key positions in the ICICI Group in the areas of retail banking, corporate and investment banking and treasury. He was appointed as Managing Director & CEO of ICICI Securities in May 2011.

Prior to that, Mr. Bagchi was an Executive Director at ICICI Securities. He led the development of the online trading platform (icicidirect.com); the development of the internet banking platform at ICICI Bank; and the growth of the retail liabilities & third party product distribution businesses at ICICI Bank.

The Board of Directors of ICICI Securities Limited has appointed Shilpa Kumar, Group Executive and Head - Markets & Proprietory Trading at ICICI Bank, as Managing Director & CEO of ICICI Securities with effect from November 1, 2016, subject to necessary approvals.

Ms. Kumar has been with the ICICI Group since 1989 and has worked in key positions across treasury, project finance and corporate banking.

B. Prasanna, Managing Director & CEO, ICICI Securities Primary Dealership Limited (I-Sec PD), will move to ICICI Bank as Group Executive and Head - Markets & Proprietary Trading with effect from November 1, 2016.

Mr. Prasanna has been with the ICICI Group since 1993 and has been the Managing Director & CEO of I-Sec PD since 2008. The Board of Directors of I-Sec PD at its meeting has appointed Mr. Prasanna as non-executive Vice Chairman of I-Sec PD effective November 1, 2016.

The Board of Directors of I-Sec PD has appointed Shailendra Jhingan as Managing Director & CEO, with effect from November 1, 2016 subject to necessary approvals.

Mr. Jhingan heads the corporate bonds business at I-Sec PD. He has over two decades of experience in fixed income markets and asset management.

Rajiv Sabharwal, Executive Director has decided to pursue career opportunities outside the ICICI Group.

To facilitate a smooth transition, Mr. Sabharwal will continue in office as Executive Director till January 31, 2017.


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