ICICI Prudential Life's board appoints NS Kannan as MD and CEO

Prior to being CFO of ICICI Bank, he served as ED of the life insurer

ICICI Prudential Life Insurance Company’s board of directors on Monday appointed NS Kannan managing director (MD) and chief executive officer (CEO) with effect from June 19. 

The appointment is subject to approvals from the Insurance Regulatory Development Authority of India (IRDAI).

Sandeep Bakhshi, until recently the CEO of ICICI Pru, has been appointed MD and chief operating officer (COO) of ICICI Bank, the lender informed the Bombay Stock Exchange on Monday night.

Bakhshi resigned as CEO from the life insurance company on Monday evening but will continue as a non-executive director. 

Between 2009 and 2013, Kannan was the executive director and chief financial officer (CFO) of ICICI Bank, having spent his time working in the treasury of the bank as well.

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Prior to his appointment as CFO, he also served as executive director of ICICI Prudential. 

Kannan has worked on legal, corporate communications, risk management, strategic solutions, compliance and internal audit functions of the bank and has been with the ICICI Group for over 27 years.

A graduate from the Indian Institute of Management, Bangalore, Kanan is also a chartered financial analyst from the Institute of Chartered Financial Analysts of India.

Kannan is on the board of directors of ICICI Lombard General Insurance, ICICI Bank Canada and on the board of ICICI Prudential as a director, while being the chairman of the Board for ICICI Bank UK and ICICI Securities Primary Dealership.