HDFC Bank on Thursday appointed Anup Bagchi as Managing Director and Chief Executive Officer for three years with effect from October 27, 2026.
Bagchi, currently serving as the MD and CEO of ICICI Prudential Life Insurance, will succeed Sashidhar Jagdishan, who informed the board in August that he would not seek reappointment when his term ends on October 26.
In a regulatory filing, HDFC Bank said the Reserve Bank of India has approved the appointment of Bagchi as Managing Director and Chief Executive Officer for three years.
Consequently, the Board of Directors of the Bank, based on the recommendation of the Governance, Nomination and Remuneration Committee, at its meeting held on October 1, 2026, approved the appointment of Bagchi as an Additional Director of the Bank with effect from October 2, 2026.
The board also approved the "appointment of Anup Bagchi as the MD & CEO of the Bank on such terms and conditions, including remuneration, as approved by the RBI, for a period of 3 (three) years with effect from October 27, 2026, subject to approval of the shareholders as per the provisions of the Companies Act, 2013", HDFC Bank said.