IndusInd Bank makes key appointments to strengthen leadership team

IndusInd Bank has made key leadership appointments, naming a new CHRO, chief data officer, head of wholesale banking and an MD and CEO for Bharat Financial Inclusion, its microfinance subsidiary

IndusInd Bank has made a raft of senior-level appointments as it continued its operational overhaul to strengthen its leadership team after a turbulent phase triggered by derivative loss. 

 

The private lender on Tuesday announced several key appointments, including that of chief human resources officer (CHRO), a managing director & CEO for Bharat Financial Inclusion -- its wholly owned subsidiary-- a chief data officer, and a new head of wholesale banking at the bank.

 

The bank has appointed Amitabh Kumar Singh as CHRO, effective November 10.

 

Singh will also be part of the senior management personnel of the bank. He has previously worked with the ICICI group for 21 years. In his last assignment with the ICICI group, he was CHRO for ICICI Home Finance.

 

Singh has spent eight years with ICICI Prudential life insurance, and 11 years with ICICI bank.

 

The CHRO position was vacant since July when Zubin Mody quit after a two-decade association with the bank.

 

Additionally, the bank said it has appointed Balaji Narayanamurthy as chief data officer.

 

Narayanamurthy will lead the bank’s data strategy, business intelligence, advanced analytics, AI initiatives, and data engineering capabilities. He was previously associated with Axis Bank as president & head of the Business Intelligence Unit and later as Head of Enterprise AI. His prior experience includes a decade in the US credit-card industry, with leadership roles at Barclays US and Capital One, including Group Director of Analytics.

 

The bank has also appointed Ganesh Sankaran as head of the wholesale banking group. Sankaran has been tasked with developing the bank’s strategy and business in corporate banking, institutional banking including PSU and government banking, SME and mid-market group, real estate, supply chain finance, transaction banking and project and structured finance, among other areas.

 

Sankaran’s career spans across Axis Bank, Federal Bank and HDFC Bank.

 

Separately, the bank has also appointed Tapobrat Chaudhuri as MD & CEO, Bharat Financial Inclusion (BFIL), a 100 per cent microfinance subsidiary of the bank.

 

Chaudhuri has been tasked with driving BFIL’s strategic priorities, including strengthening asset quality and collections, reducing delinquencies, optimising costs, and enhancing synergies between the bank and BFIL to further granularise the retail business while reinforcing compliance and governance frameworks.

 

Prior to this, Chaudhuri served as president & business head-microfinance at Kotak Mahindra Bank. He has previously worked with Axis Bank and the State Bank of India group across corporate and retail banking.

 

“These appointments reaffirm the bank’s strategic commitment to enhance its leadership capabilities and drive sustainable growth. They are aimed at deepening expertise across priority functions and supporting long-term growth across business segments,” the bank said in a statement.

 

Previously, the bank announced appointments of Viral Damania as the chief financial officer (CFO), Pragati Gondhalekar as head of Internal Audit and Pankaj Sharma as head, Business Transformation, among others. Also, Anand Vardhan has been appointed as general counsel, Pankaj Sharma has been appointed as the head of business transformation and Sheran Mehra was appointed as the chief marketing officer.