India’s third largest private sector lender, Axis Bank on Saturday announced the appointment of Amitabh Chaudhry as its new managing director and chief executive officer (CEO) from January 1, 2019. Chaudhry will take over from outgoing MD & CEO Shikha Sharma after she demits office on December 31, 2018, Axis Bank said in a filing to the stock exchanges. Presently, Chaudhry heads HDFC life insurance arm, HDFC Life as its MD and CEO. “I would like to thank the RBI and the Axis Bank Board for the privilege and honor given to me to lead this great institution. Axis Bank is amongst the leading private sector banks in the country. Together with the support of the Board and the Axis team, I am confident of continuing the bank’s remarkable journey these past 25 years and to contribute to its future growth,” Chaudhry said.
Chaudhry has been in the banking industry since 1987 and has been associated with HDFC Life since 2010. He is an alumnus of the Indian Institute of Management Ahmedabad and holds a B.Tech degree from BITS, Pilani. Shikha Sharma who has spent over 9 years with Axis Bank, said, “I have particularly enjoyed the opportunity to work with the Axis team in leveraging the myriad opportunities in the financial sector over the last decade. I am sure that under the leadership of Amitabh the bank would soar to greater heights.”