India's IndusInd Bank appoints industry veteran Rajiv Anand as CEO
Anand, a veteran banker, is currently the deputy managing director at private lender Axis Bank (AXBK.NS), opens new tab, and has held key management positions at leading global financial institutions.
He was one of three candidates shortlisted by the bank's board, Reuters reported last month. The two other candidates were Rahul Shukla and Anup Saha.
Anand's appointment was confirmed following the Reserve Bank of India's (RBI) clearance, which has the final authority on senior banking appointments.
IndusInd Bank took a $230 million hit in the year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.
In the absence of a chief executive, the bank has been steered by the board and a panel of two senior officials.
Last week, the Mumbai-based bank said its "financials have returned to profitability", as it swung back to profit in the first quarter after its biggest-ever loss in the previous three months.
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