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Anup Bagchi will be the MD & CEO of HDFC Bank from October 27, 2026.
He is the first outsider to head HDFC Bank since it was set up in 1994.
He will have to focus on loan growth and credit-deposit dynamics in the existing competitive environment. Further he will be tasked to extract synergies from the HDFC merger.
He succeeds Sashidhar Jagadishan who took over from Aditya Puri in 2020. Jagadishan had completed the merger leading the bank through the pandemic. During his tenure the digital operations of the bank had been expanded.
Colleagues describe Anup Bagchi as a big picture manager. He prefers to give teams both a destination and a route to reach it. He is a firm leader. But he is known for persuasion than theatrics. The approach has shaped his mangement style.
He is regarded as unusually grounded for someone who has occupied senior positions across a large financial conglomerate (ICICI group). He relishes holding meetings with executives in the common canteen rather than behind glass doors.
Bagchi has tended to travel light. During his transfers between ICICI group businesses, he is known to have moved without taking large teams with him.
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