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Indusind Bank finalises 'potential successor' to MD & CEO Ramesh Sobti

Sobti's tenure comes to end in March 2020, when he turns 70

Nidhi Rai  |  Mumbai 

IndusInd Bank
IndusInd Bank

on Thursday informed exchanges that it has selected a potential successor to Ramesh Sobti, the current MD and CEO of the bank. However, it did not name the successor.

In a statement, the bank said, "As mandated under the extant RBI norms, the bank has submitted an application to the Reserve Bank of India (RBI), seeking approval for the appointment of the new MD & CEO of the bank".

Three names which are doing rounds for the corner-room are Sumant Kathpalia, the lender’s head of consumer banking, Paul Abraham, the current chief operating officer and Suhail Chander, head of corporate and commercial banking.

Sobti's tenure comes to end in March 2020, when he turns 70. He joined the bank in February 2008. All the three names which are making rounds joined the private lender along with Sobti as a team.

There has been a change in the leadership at three larger private sector banks. Sandeep Bakshi joined ICICI bank in October 2018, Amitabh Chaudhry joined Axis bank in January 2019 and Ravneet Gill became the MD and CEO of Yes bank in March 2019.

First Published: Thu, October 31 2019. 20:50 IST