Money & Banking

IndusInd Bank announces Sumant Kathpalia as new MD and CEO

Our Bureau Mumbai | Updated on February 28, 2020

Private sector lender IndusInd Bank on Thursday announced the appointment of Sumant Kathpalia as its new Managing Director and CEO.

Kathpalia will take over from Romesh Sobti who is set to retire later next month.

“…the bank has received a communication from the RBI today, approving the appointment of Sumant Kathpalia, who currently heads the bank's Consumer Banking business, as its Managing Director and CEO for three years, with effect from March 24, 2020,” the lender said in a late evening regulatory filing.

In November last year, the bank’s Nomination and Remuneration Committee and the Board had considered and submitted the name of a potential candidate for the role of MD and CEO, to the Reserve Bank of India, seeking approval for the appointment.

Kathpalia has been with IndusInd Bank since 2008 and currently heads the consumer banking division at the private sector lender, and has been responsible for building the bank’s retail franchise.

Published on February 27, 2020

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