Shares of HDFC Bank, will remain in focus on Monday, October 5, after India’s largest private lender announced the appointment of Anup Bagchi as its next chief of executive for a period of three years.
Fifty five year old Anup Bagchi will succeed Sashidhar Jagdishan, who decided to not seek reappointment after his second tenure ends in October 2026. Sashidhar Jagdishan’s departure has come just months after Chairman Atanu Chakraborty resigned in March, saying certain practices at the bank were at odds with his “personal values and ethics”.
How bank stocks have reacted to past CEO appointments?
As Anup Bagchi’s appointment brings to an end one of the most closely watched CEO succession processes in the banking sector, let’s revisit some of the past bank CEO appointments and how the respective stocks performed on the day of announcement.
Yes Bank announced the appointment of Ravneet Singh Gill as its next Managing Director (MD) and Chief Executive Officer (CEO) on January 24, 2019. The announcement sparked nearly 9% rally in the Yes Bank stock that day. Ravneet Singh Gill succeeded Rana Kapoor as the next bank CEO.
RBL Bank named R Subramanikumar as its next MD and CEO on June 13, 2022. After the RBI approved the appointment, RBL stock crashed nearly 18% during the intraday trading session amid persistent concerns around the bank operations and asset quality.
The appointment fixed one of the concerns linked with the private lender, but issues on growth strategy, employee retention, recovery on return ratios continued to concern investors, according to Kotak Institutional Equities experts.
IndusInd Bank announced Rajiv Anand as its MD and CEO on August 5, 2025. The private bank stock jumped nearly 5% post the announcement linked to leadership change. Anand’s appointment was seen as a positive move by market experts, given is extensive experience across wholesale/retail banking, digital transformation, and capital markets.
HDFC Bank CEO appointment
When HDFC Bank appointed Sashidhar Jagdishan as its CEO on August 4, 2020, the stock surged nearly 4%. The bank stock had even surged to an intraday high of 5.17%.
