Who is Amitabh Chaudhry? The new CEO & MD of Axis Bank
Amitabh Chaudhry is the new CEO & MD of Axis Bank and the reaction from investors has been immediate - the share price of Axis Bank jumped by as much as 5% with an intraday high of Rs 676.90 per piece on BSE.
One of the largest private lenders in India, Axis Bank, saw much love showered on its stock by investors during today's trading session, even as benchmark indices Sensex and Nifty 50 were on hotbed. The share price of Axis Bank jumped by as much as 5% with an intraday high of Rs 676.90 per piece on BSE. However, at around 1311 hours, the share price was trading at Rs 654.25 per piece up by Rs 9.10 or 1.41%.
The reason behind such gains came after when the bank announced last week, that the Reserve Bank of India has approved the appointment of Amitabh Chaudhry as the Managing Director & CEO of Axis Bank for a period of 3 years with effect from January 01, 2019 up to December 31, 2021.
Who is Amitabh Chaudhry?
Amitabh Chaudhry, age 54 years, was the Managing Director & CEO of HDFC Standard Life Insurance Company Ltd ("HDFC Life"). He has been associated with HDFC Life since January 20 I 0.
Chaudhry started his career in the Corporate Banking with Bank of America in 1987, where he worked in diverse roles ranging from Country Finance Officer, Head of Wholesale and GCMG Finance in Asia Division and thereafter as Managing Director and Head Technology Investment Banking, Asia.
Chaudhry was also associated with CAL YON Bank (formerly Credit Lyonnais Securities Asia (CLSA), as its Managing Director, Head South East Asian Investment Banking and Head Technology Investment Banking.
Prior to joining HDFC Life, he joined Infosys BPO Ltd. in 2003 and was elevated as its Managing Director & CEO in 2006. He was also Head - Independent Validation & Testing Unit (IVS) oflnfosys Technologies Ltd.
Chaudhry is a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and is an alumnus of lndian Institute of Management, Ahmedabad.
Chaudhry will take over from Shikha Sharma after she demits office on December 3 I, 2018.
Chaudhry in the press release said, "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."
Sharma the current MD & CEO of Axis Bank said "I have spent over 9 years with the bank and I shall always look back at my journey with a deep sense of satisfaction and pride. 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."
Sharma believes under the leadership of Amitabh the bank would soar to greater heights.