HDFC Bank Gets New MD & CEO: Anup Bagchi To Succeed Sashidhar Jagdishan

HDFC Bank on Thursday appointed Anup Bagchi as its new Managing Director and Chief Executive Officer (CEO), succeeding Sashidhar Jagdishan, with his three-year term set to begin on October 27, 2026.

The appointment follows approval from the Reserve Bank of India on October 1, according to a regulatory filing by HDFC Bank with the stock exchanges.

The bank’s Board of Directors, at its meeting on October 1, approved the appointment of Bagchi as an Additional Director with effect from October 2, until the date of approval by shareholders.

The board also approved his appointment as MD & CEO for a period of three years with effect from October 27, subject to shareholder approval under the Companies Act, 2013.

Bagchi will take over from Jagdishan, whose

term as HDFC Bank’s MD & CEO ends on October 26, 2026. Jagdishan had informed the bank’s board on August 29 that he would not seek reappointment.

Bagchi currently serves as Managing Director and CEO of ICICI Prudential Life Insurance Company, a position he has held since 2023. He has more than three decades of experience across banking and financial services.

HDFC Bank said a brief profile of Bagchi had been enclosed with the regulatory filing as an annexure.