Business Daily from THE HINDU group of publications
Friday, Dec 19, 2008
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Business Daily from THE HINDU group of publications Friday, Dec 19, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Private Banks Money & Banking - People
Ms Chanda Kochhar Our Bureau Mumbai, Dec. 18 The board of directors of ICICI Bank will be meeting on Friday to consider a successor to Mr K.V. Kamath, Managing Director and CEO. Mr Kamath has been at the helm of the bank, the largest in the Indian private sector, for close to 12 years now and his tenure comes to an end in May 2009. According to sources, Ms Chanda Kochhar, Joint Managing Director & Chief Financial Officer, is likely to be chosen for the top post. Ms Kochhar joined ICICI, the erstwhile financial institution, as a Management Trainee in 1984, after her Masters in Management Studies (Finance). In the initial years, she handled project appraisal and monitoring. In 1993, when ICICI decided to enter commercial banking, she was deputed to ICICI Bank as a member of the core team to set up the bank. In July 2000, under the leadership of Ms Kochhar, ICICI Bank entered the retail business and within a short span of around five years, the bank emerged as the largest retail financer in India. Though Mr Kamath will demit office in May 2009, it is widely expected that he is likely to continue to as non-executive chairman. The incumbent Non-executive Chairman, Mr N. Vaghul has expressed his desire to step down. Ever since Mr Kamath assumed charge of ICICI as its MD & CEO in 1996, he has been the public face, first of the financial institution and later of the unified bank, following the merger of ICICI with its subsidiary ICICI Bank in 2002. No evidence of manipulation of ICICI Bank share price: SEBI ICICI Home Finance offers 11.15% on fixed deposits ICICI Bank out of top 10 advance taxpayers’ league More Stories on : Private Banks | People | ICICI Bank Ltd
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