Who led and departed: Tracking key banking exits and leadership trends

HDFC Bank chairman Atanu Chakraborty quits citing ethical concerns, as spotlight turns on governance and trend of former bureaucrats leading private sector banks

(This story has been updated)  HDFC Bank on Wednesday announced the resignation of its part-time chairman Atanu Chakraborty, indicating that certain practices at the bank were not aligned with his values and ethics. Chakraborty, a bureaucrat from the 1985 batch of the Indian Administrative Service (Gujarat cadre), previously served as secretary of the Department of Economic Affairs in the Ministry of Finance and headed the Department of Investment and Public Asset Management. We examine recent high-profile departures at the bank and instances of former bureaucrats serving as bank chairpersons.  

Bureaucrats serving as bank chairpersons

 

Pradeep Kumar Sinha (ICICI Bank)

1977 batch IAS officer, former cabinet secretary, government of India

 

CS Rajan (Kotak Mahindra Bank)

1978 batch IAS officer, former chief secretary, Rajasthan government

 

VJ Kurian (South Indian Bank)

1983 batch IAS officer, former additional chief secretary water resources, Kerala government

 

Kshatrapati Shivaji (Utkarsh SFB)

1986 batch IAS officer, former secretary, government of India 

Source: Company websites