In a major rejig of senior management positions, ICICI Bank on Friday appointed its brokerage business head Anup Bagchi as executive director of the bank and head of retail banking, replacing Rajiv Sabharwal.
Shilpa Kumar will replace Bagchi as MD and CEO of ICICI Securities. Shilpa will be succeeded by B Prasanna as Group Executive and Head of Markets and Proprietary Trading at ICICI Bank, as per the decisions taken by its board here on Friday.
The board also took on record the resignation of Sabharwal as executive director consequent to his decision to pursue opportunities outside the ICICI group, effective January 31, 2017, ICICI Bank said in a regulatory filing.
Sabharwal has been with the group for 22 years, except for a brief spell when he had moved to Sequoia Capital. He was instrumental in retail expansion of the group in recent years.