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Anup Bagchi’s HDFC Bank entry may trigger senior management reshuffle

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Anup Bagchi’s HDFC Bank entry may trigger senior management reshuffle

Anup Bagchi’s appointment as HDFC Bank’s first outsider MD & CEO has removed the uncertainty around the lender’s top job, but attention is now shifting to the management team below him. Three brokerages have flagged the possibility of churn at the senior or mid-senior level as the bank enters a new leadership phase.

• RBI approved Anup Bagchi’s appointment as HDFC Bank MD & CEO for three years from October 27 • Bagchi will be the first outsider to lead the bank in its 32-year history • Brokerages flag possible churn at senior and mid-senior management levels • Stability in upper management is likely to be among Bagchi’s immediate priorities

The appointment of Anup Bagchi as HDFC Bank ’s next Managing Director & CEO has settled the lender’s top-level succession, but the focus is now shifting to the senior management team that will work with the new chief executive, with brokerages flagging the possibility of changes at the upper and mid-senior levels. The Reserve Bank of India has approved Bagchi’s appointment for a three-year term from October 27. He will succeed Sashidhar Jagdishan, who will complete his tenure on October 26. Bagchi will be the first chief executive from outside HDFC Bank to lead the lender. Analysts said Bagchi’s entry could result in some changes to the existing management structure, although the extent of any churn will depend on how the new CEO chooses to structure his team. Advt

“Some churn at the senior management level” is possible, Emkay Research said, while making stability in the upper management one of Bagchi’s key priorities.


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