HDFC Bank ADRs jump over 5% after Anup Bagchi appointed as MD & CEO for three years

HDFC Bank appointed Anup Bagchi as Managing Director and CEO for three years effective October 27, 2026, following RBI approval. Bagchi, currently MD and CEO of ICICI Prudential Life Insurance, will succeed Sashidhar Jagdishan, who decided not to seek a third term. The bank's ADRs jumped 5.4% intraday to $23.55 on the NYSE, reflecting strong market approval of the leadership transition at India's largest private sector lender.