IndusInd Bank treasury head Siddharth Banerjee to step down in April

IndusInd Bank's treasury head Siddharth Banerjee is set ​to step down in April, three sources ​with knowledge of the matter said on Thursday, ‌marking the latest senior leadership change at the mid-sized private lender.

Banerjee, who has been the head of the global markets group at IndusInd Bank since 2020, has informed the management about his decision, according to the sources, who requested anonymity as they are not authorised to speak to the media.

Reuters could not determine the reason for his planned exit or ‌ascertain whether a replacement has been found.

Banerjee told Reuters via a mobile text message: "I am the head of markets and still working for the bank".

 

IndusInd Bank did not respond to a Reuters query seeking comment.

The lender has seen a number of changes across its top ​leadership over the past year after reporting its largest-ever quarterly loss in ‌the quarter ended March 2025, following a $230 million hit tied to governance and accounting failures.

The management ​changes ‌include the exits of former CEO Sumant Kathpalia and Deputy ‌CEO Arun Khurana. Chairman Sunil Mehta also stepped down after his term ended in January.

IndusInd has also appointed ‌a ​new CFO, a ​chief human resources officer and several other senior executives. CEO Rajiv Anand said in November that ‌recruitment will ​continue as the bank restructures.