Amitabh Chaudhry, MD & CEO at HDFC Life Insurance, has been appointed managing director and chief executive of Axis Bank for a three-year term. He will take charge on January 1, 2019.Chaudhry has has resigned from the post. will
Chaudhry, 54, succeeds the current MD & CEO Shikha Sharma, whose term ends on December 31.HDFC Standard Life Insurance Company will now hold a meeting on September 12 to decide on the new CEO.
The board of private sector lender Axis Bank on Saturday vetted Chaudhry’s appointment after getting approval from the Reserve Bank of India (RBI), Axis Bank said in a statement. The bank board considered the terms and conditions relating to Chaudhry’s appointment including his remuneration. In July, the bank had submitted three names for the top job to the RBI.
Chaudhry, an engineering graduate from the Birla Institute of Technology & Science (BITS) Pilani and an alumnus of IIM Ahmedabad, has been associated with HDFC Life since January 2010. He had earlier held senior management positions in Bank of America, Calyon Bank and Infosys BPO.