Now, the ICICI Group veteran is set to lead HDFC Bank, India’s largest private sector lender, from October 27, 2026. An engineer by education, Anup Bagchi has spent more than three decades building a career in financial services. His appointment marks a major leadership change at the bank, where he will succeed Sashidhar Jagdishan. Here are five things to know about the banker and his journey to the top job:
Bagchi joined the ICICI Group in 1992. He later became an executive director at ICICI Bank, a position he held from 2017 to 2023. Since June 2023, Bagchi has headed ICICI Prudential Life Insurance, now known as ICICI Life Insurance.
Over the years, he worked across different areas of financial services, including retail banking, treasury, investment banking and digital financial services. His career has taken him through several leadership roles, giving him experience in businesses that serve individual customers as well as companies. HDFC Bank’s official profile provides details of his career. Before taking charge of ICICI Prudential Life Insurance, Bagchi served as managing director and chief executive officer of ICICI Securities. At ICICI Bank, his responsibilities included retail, business and rural banking, followed by wholesale banking. These roles gave him experience across different parts of the financial services industry. His appointment at HDFC Bank will bring him back to the banking sector after more than three years leading an insurer. The move also makes his career path unusual: he has held senior leadership positions across a brokerage, a bank and a life insurance company before taking charge of HDFC Bank.
