Rajiv Anand Appointed CEO of IndusInd Bank Amidst Financial Turnaround
Rajiv Anand has been appointed as the CEO of IndusInd Bank for a three-year term starting on August 25. He succeeds in navigating a challenging period marked by financial discrepancies and leadership changes. With a background at Axis Bank, Anand's appointment indicates a significant leadership restructuring.
IndusInd Bank has announced the appointment of Rajiv Anand as its new Chief Executive Officer for a three-year term, commencing on August 25. The decision follows the approval from the Reserve Bank of India (RBI), cementing Anand's position as the head of the bank.
Anand, previously the deputy managing director at Axis Bank, brings significant experience from his long career in the financial sector. He was among three candidates under consideration, with Rahul Shukla and Anup Saha being the other contenders, according to inside reports last month.
This leadership shift comes after IndusInd Bank faced a $230 million loss due to misaccounting in derivative trades, which led to the resignation of former CEO Sumant Kathpalia and deputy Arun Khurana. Recently, the bank reported a return to profitability, showing signs of recovery under interim management.
(With inputs from agencies.)
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