Chanda Kochhar appointed ICICI Bank CEO from May '09

MUMBAI: ICICI Bank on Friday named Chanda Kochhar as the successor of K V Kamath to the post of CEO and Managing Director.

Kamath would take over as non-executive chairman after his retirement on April 30, 2009 and Kochhar would take over from May 1, 2009.

Kochhar, who is ICICI Bank's Joint Managing Director and group Chief Financial Officer, had joined the erstwhile ICICI as a Management Trainee in 1984. When ICICI decided in 1993 to enter commercial banking, she was deputed to ICICI Bank as part of the core team to set up the operations.

Kochhar was instrumental in setting up and scaling up the retail business for ICICI Bank. In April 2001, she took over as the Executive Director, heading the retail business in the ICICI Bank. In April 2006, she was appointed as Deputy Managing Director.

Chanda D. Kochhar, BA, MMS, ICWAI has been Head of International Banking arm of ICICI Bank Ltd. since October 2006 and has been its Joint Managing Director since October 2007. Ms. Kochhar has been Chief Financial Officer of ICICI Bank Ltd. since October 2007. She has been an Executive Director of Retail Banking Business of ICICI Bank Ltd., since April 1, 2001, responsible for the retail banking operations. Ms. Kochhar started her career in 1984 at ICICI in its projects ... department. She has wide experience in the fields of corporate credit, infrastructure financing, e-commerce strategy and retail business. She served as Deputy Managing Director of ICICI Bank Ltd. since April 29, 2006. She served as Senior General Manager of ICICI since 2000, where she was in charge of its retail business. She served as Senior General Manager of ICICI Personal Financial Services Limited. Ms. Kochhar served as Chairperson of ICICI Home Finance Company Limited, subsidiary of ICICI Bank Ltd. She serves as Vice Chairman of ICICI Bank Canada Ltd. She has been Executive Director of ICICI Bank Ltd. since April 1, 2001. She serves as Director of ICICI Prudential Life Insurance Company Ltd., a subsidiary of ICICI Bank Ltd. She also serves as Director of ICICI Bank Canada Ltd. She serves as Member of E-Visa Advisory Board for Asia Pacific. She served as Director of ICICI Home Finance Company Limited, subsidiary of ICICI Bank Ltd. She served as Director of ICICI Personal Financial Services Limited. Ms. Kochhar was ranked 33rd in the Fortune's List of Most Powerful Women in Business in 2007, awarded "Business Woman of the Year" in 2005 by The Economic Times of India, and selected as "Retail Banker of the Year" in 2004 by The Asian Banker from amongst prominent retail bankers in the Asia Pacific region . Ms. Kochhar holds a MMS degree from the Jamnalal Bajaj Institute of Management Studies, Mumbai and a degree in Cost Accountancy from the Institute of Cost and Works Accountants of India. .