Who will be the next CEO of IndusInd Bank? Rajiv Anand may be appointed as Head of Bank
IndusInd Bank, a private sector lender, is reportedly considering Rajiv Anand, the deputy managing director of Axis Bank, for the position of Managing Director (MD) and Chief Executive Officer (CEO). This move follows the resignation of Sumant Kathpalia, the former CEO of IndusInd Bank, who stepped down after taking moral responsibility for discrepancies found in the bank’s derivatives portfolio.
Why Rajiv Anand?
According to sources, Rajiv Anand is being considered as one of the key candidates for the CEO role. While the final decision depends on Anand’s willingness to take up the position, his experience and skills make him a strong contender. Rajiv Anand has an extensive background in the banking sector and a solid understanding of both retail and wholesale banking segments. He also has a strong grasp of treasury operations. Anand’s qualifications, including his Chartered Accountancy (CA) certification and experience in the mutual fund industry, add to his suitability for the role.
Anand’s Upcoming Retirement from Axis Bank
In a recent announcement, Axis Bank revealed that Rajiv Anand would retire from his role as deputy MD effective August 3. After his retirement, Anand will continue to serve as the non-executive chairperson of Axis Max Life Insurance. Upon announcing his retirement, Anand shared his reflections on social media, expressing gratitude for the opportunities he had over the years. He also mentioned his excitement for what the future holds.
Know about Rajiv Anand
Rajiv Anand is currently working as Deputy MD in Axis Bank. He is set to retire on 3rd August. Rajiv Anand has had an illustrious career spanning more than 35 years, focusing on various facets of the financial services industry. Having held key management positions at leading global financial institutions, he is widely recognized for his strengths in capital markets and for successfully building new businesses to scale.
Rajiv joined Axis Asset Management Co. Ltd. in 2009 as its founding Managing Director & CEO. In 2013, he was appointed President of Retail Banking at Axis Bank for a five-year term. As President of Retail Banking, he spearheaded the business with his sharp acumen, leading to the achievement of several key milestones. He has served on the Bank’s Board since 2013.
In 2018, he took on the role of Head of Wholesale Banking, guiding the business towards growth and sustainability. Since December 27, 2021, he has been Deputy Managing Director of the Bank, overseeing critical functions including Wholesale Banking, Digital Banking, Marketing, and Corporate Communications.
Rajiv is also a member of the Corporate Social Responsibility Committee, Committee of Directors, Stakeholders Relationship Committee, and the Committee of Whole Time Directors within the Bank. In addition, he serves on the National Committee on Banking at CII and holds the position of Senior Vice President at the Bombay Chamber of Commerce & Industry.
He is director on the Boards of Axis Bank UK Limited, Axis Max Life Insurance Company Limited, and Bombay Chamber of Commerce and Industry. He holds a degree in Commerce and is a qualified Chartered Accountant.
What This Means for IndusInd Bank
The potential appointment of Rajiv Anand as CEO would mark a significant leadership change for IndusInd Bank. With his deep experience in banking and strong leadership skills, Anand could bring a fresh perspective to the bank’s growth strategy and its approach to handling financial challenges. However, it remains to be seen whether Anand will choose to take on the CEO role at IndusInd Bank, given the differences in the scale and brand of both Axis Bank and IndusInd Bank.
