Private lender Axis Bank has appointed Amitabh Chaudhry, former Managing Director of HDFC Life as its new Managing Director and Chief Executive Officer (CEO).
Chaudhry, 54, will take over as the new MD and CEO of Axis Bank and his three-year tenure will begin from January 1, 2019, and will remain in office till December 31, 2021.
“We wish to inform you that the Board of Directors (the Board) of the Bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank. for a period of 3 years. with effect from 1 January 2019 up to 31 December 2021 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration,” said Axis Bank in a notice to the Bombay Stock Exchange.
The Axis board will now be holding a meeting to approve the appointment of Chaudhry as additional director.
“After an extensive search, my fellow directors and I are pleased to welcome Amitabh as the Bank’s MD & CEO. Amitabh has a proven track record and is well-equipped to lead Axis Bank in pursuing its growth ambitions balanced with a strong emphasis on risk and compliance management,” said Sanjiv Misra, chairman, Axis Bank.
Chaudhry was associated with HDFC Standard Life since January 2010. He is widely credited for the insurance company’s successful IPO earlier this year.
His career in banking began with Bank of America in 1987. He then moved to CALYON Bank as its MD, head south-east Asian investment banking and Head technology investment banking.
He was also associated with Infosys BPO between 2003 and 2006. He holds a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and an alumnus of Indian Institute of Management, Ahmedabad.
