The Representative

India's Youth News Tank

ICICI: The Hogwarts of BFSI Wizards

3 min read

ICICI in itself is the Hogwarts of BFSI Wizards. Leaders at ICICI have created a magical paradigm shift and are now ruling some of the popular names in the BFSI Sector. Do you know what “IDFC FIRST Bank, Standard Chartered Bank, Kotak Mutual Fund, JPMorgan Chase & Co have in common? They are headed by former employees and leaders of the esteemed ICICI Group!

• The man who engineered this spectacular success story of India’s 2nd largest private sector bank is Mr. K.V. Kamath. Total ICICI assets went from 21k Cr to 380k Cr under his 13-year tenure as MD & CEO! He is also rumored to be a candidate for India’s next FM!

• Sandeep Bakshi took charge as MD & CEO of ICICI Bank in Oct’18 and led the bank through a fierce turnaround. He previously has been the MD & CEO of both insurance companies of ICICI Group. ICICI Bank’s FY’21 Q1 results: Profits up 36% & ₹5550 Cr COVID provision provided.

Some Ex-ICICI leaders at forefront of India’s BFSI Sector:

  • Zarin Daruwala – CEO, Standard Chartered Bank India.
  • V Vaidyanathan – MD & CEO, IDFC First Bank.
  • Rajiv Sabharwal – MD & CEO, Tata Capital, was on the ICICI Bank board.
  • Nilesh Shah – MD, Kotak MF.
  • Sanjeev S – CEO, Bharti AXA General Insurance.

Existing leaders in the ICICI Group:

  • NS Kannan, MD & CEO ICICI Prudential Life.
  • Nimesh Shah MD & CEO ICICI Prudential AMC.
  • Vijay Chandok MD & CEO ICICI Securities.
  • Bhargav Dasgupta MD & CEO of ICICI Lombard General Insurance.

Anup Bagchi ex CEO of ICICI Securities & Vishakha Mulye is currently on the board of directors. Vishakha, apart from ICICI Bank, is also on the board of ICICI Lombard General Insurance and chairs the board of ICICI Bank Canada.

All these mentioned names from NS Kannan to Dr Nachiket have spent 20-30 years in ICICI Group.

Some more names which were the top leaders in the bank:

  • Ms Lalita Gupte, former Joint MD of ICICI Bank, currently retired and independent board member of many companies.
  • Dr Nachiket Mor, former ED of ICICI Bank, later Board member of RBI.
  • Sonjoy Chatterjee, current India Chairman of Goldman Sachs.
  • Neelesh Garg, current MD & CEO of TATA AIG General Insurance.
  • Anubrata Biswas, current MD & CEO of Airtel Payments Bank.
  • Tarun Chugh, current MD & CEO of Bajaj Allianz Life Insurance.
  • Vineet Arora, current MD & CEO of PayTM General Insurance.
  • Amitabh Chaturvedi, current Group CEO of Financial Services, Karvy.
  • Anuj Gulati, current MD & CEO of Religare Health Insurance.
  • Rishi Srivastava, ex MD & CEO from TATA AIA Life. Worked in ICICI Bank and ICICI Prudential Life
  • Madhabi Puri-Buch, current Board Member, SEBI has been in the ICICI Bank board and also in ICICI Securities MD & CEO.

Some eminent female leaders who made it big with ICICI:

  • Shikha Sharma, Ex MD & CEO Axis Bank (2009-18) is also an advisor to Gpay. When she left ICICI in 2009, it had 58% of its loans to the retail sector, from zero in 2000!
  • Kalpana Morparia, had the senior-most role in ICICI Bank as Joint MD. She currently is the India CEO of JP Morgan.
  • Chanda Kocchar, was the only woman to win the Woodrow Wilson Award and has led ICICI Bank as the CEO from 2009-18.

In over 3 decades of dominance, ICICI built 30+ top leaders of India Inc! It all starts with a great leader and a super focused, visionary team!

ICICI was created and developed in 1955 at the initiative of the World Bank, the Government of India, and some key representatives of the Indian industry. The laser focus was on the objective of developing a financial institution for providing medium-term and long-term project financing to Indian businesses. Who would have thought this vision in 1955 would lead ICICI Bank into becoming the second-largest private sector bank in India in 2020 & create a real-world Hogwarts of BFSI Wizards.

Keep Building, Keep Believing!

Written by Rony Saha & Radhika Bajoria 

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