Mumbai: After ICICI Bank chairman and MD Chanda Kochhar got retired, Sandeep Bakshi has taken her place. Chanda was in the midst of allegations of corporate misconduct and quid pro quo in certain loans and so the bank accepted her early retirement.
All this time, Bakshi was holding the position of COO in the bank. He got a lift in this position after the bank’s board sent Chanda on an extended leave to finish off an investigation into charges of impropriety in her role in the Videocon loan case.
This isn’t the first time Bakshi has been asked to handle a crisis. In 2008, he was transferred from ICICI Lombard into the mainstream bank as it was fighting rising delinquencies. After he handled the crisis effeiciently, Bakshi was put in charge of ICICI Prudential Life in 2010. His leadership saw ICICI Prudential’s Assets under Management (AUM) rise to Rs 1.4 lakh crore in 2018 from Rs 57,319 crore.