ICICI Bank trifurcates global setup, elevates 11 GMs

MUMBAI: ICICI Bank has done a reshuffle of its senior managers, following the retirement of joint MD Lalita Gupte and elevation of V Vaidyanathan as executive director. The bank has elevated 11 general managers as senior general managers. The bank has also made changes in its international banking operations, dividing it into three regions — Europe, Middle East and rest of Asia.

New SGMs are Anup Bagchi, who will head international retail product group and private banking; KM Jayarao, head of credit risk management and credit mid-office; Kalpesh Kikani, head of corporate products and investment banking group; Mohit Batra, head of global project finance group; Prashant Purker, head of global principal investments and trading group and structural rate-risk management group; Rajeev Sabharwal, head of retail asset products group; Shilpa Kumar, head of global markets group and Vijay Chandok, head of small enterprises group.

As part of the restructuring in the international banking group, other SGMs who have been appointed are Nimesh Shah, who will head Middle East and Africa, Suvek Nambiar, who will head Asia, and Sonjoy Chatterjee, who will head Europe, North America and Russia. The regional heads will report to Chanda Kochhar.

Sandeep Batra will move from ICICI Prudential Life Insurance to ICICI Bank as SGM to head compliance group. Mr Chatterjee will also focus on a group of corporate clients, with significant international presence and/ or international investment plans. This will be identified by Ms Kochhar.

The bank has also rejigged portfolios of some of its GM, specially in the retail side — Madhivanan B, who was in retail asset product group, will now head customer service and phone banking group; Maninder Juneja, earlier head of mortgages, will now head liabilities and Sachin Khandelwal, who used to head auto business, will now head cards business.

Mr Vaidyanathan will continue to be responsible for retail banking and report to KV kamath, MD and CEO. Following Ms Gupte’s retirement, the bank has assigned Chanda Kochhar, deputy MD, responsibility for international banking.

Four other SGMs have also been elevated. Madhabi Puri-Buch, now in charge of operations and certain key corporate functions, will be group corporate brand officer; CFO Vishakha Mulye will be group CFO, while K Ramkumar will be group chief human resource officers and Pravin Vohra will be group chief technology officer.