Veteran banker Rajiv Anand has taken charge as IndusInd Bank‘s chief executive and managing director, the bank said in an exchange filing on Monday.
Anand, whose appointment was announced earlier this month, was previously the deputy managing director at private lender Axis Bank and has held key management positions at leading global financial institutions.
IndusInd Bank took a $230 million hit in the year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.
IndusInd Bank’s board of directors appointed Rajiv Anand as the bank’s new CEO and Managing Director on August 4.
Who is Rajiv Anand
Anand recently completed his third term as Deputy Managing Director at Axis Bank, stepping down on August 3. Over the years, he has held several leadership roles. He began his career with Axis Asset Management Company in 2009 as its founding MD & CEO. Later, he served as President of Retail Banking at Axis Bank before being inducted onto the bank’s board.
Anand began his banking career with HSBC in 1990 as a trader. Before joining Axis Bank, Anand worked at Standard Chartered Bank for over 12 years as Head of Investments.
He was one of three candidates shortlisted by IndusInd Bank’s board, according to a Reuters report. The other contenders were Rahul Shukla and Anup Saha.
Rajiv Anand’s educational background
Rajiv Anand is a Chartered Accountant by education. He obtained his Bachelor of Commerce from St. Joseph’s College of Commerce, Bengaluru, in 1987 and became a Chartered Accountant in 1990.