Mumbai:

In a top level reshuffle at the ICICI group, the bank’s executive director NS Kannan has been appointed as the chief executive of ICICI Prudential Life Insurance company for a period of five years, effective from June 19, subject to regulatory approvals, the bank said in a statement.

 

ICICI Bank's board on Monday appointed Sandeep Bakhshi, MD&CEO, ICICI Pru Life, as the bank's Chief Operating Officer (COO) and whole time director of the bank for a period of five years. He will join the bank on June 19. 

 

Bakhshi,who was heading the ICICI Pru Life since 2010, will be responsible for handling all the businesses and corporate centre functions at the Bank.The ICICI Pru Life had gone public under the supervison of Bakhshi. 

 

All executive directors on the Board of ICICI Bank and the executive management will report to Bakhshi during absence of Chanda Kochhar, MD & CEO, ICICI Bank, who has decided to go on leave till the completion of the enquiry into charges of favouritism and impropriety against her is completed by Justice BN Srikrishna,

 

Kannan , has been an executive director of ICICI Bank Limited since May 1, 2009. Kannan's responsibilities include Finance, Treasury, Corporate Legal, Operations, Risk Management, Secretarial, Corporate Communications, Corporate Branding and Strategic Solutions Group.He also has the responsibility for day-to-day administration of the Compliance and Internal Audit functions.

 

Kannan served as the Chief Financial Officer and an Executive Director of ICICI Bank Ltd. from May 1, 2009 to October 25, 2013.Prior to being appointed the CFO, Kannan served as the executive director of the life insurance business for five years. 
 

 

Kannan has been a director of ICICI Prudential Life Insurance Company since May 1, 2009. He has been a nominee director of ICICI Lombard General Insurance Company since May 1, 2009.

 

He is a Chartered Financial Analyst from the Institute of Chartered Financial Analysts of India and an Honours Bachelor's Degree in Mechanical Engineering from National Institute of Technology (formerly Regional Engineering College), Tiruchirappalli. He also holds an MBA/postgraduate in management from the Indian Institute of Management, Bangalore,