Economy
HDFC Bank ADRs Jump 5% After Anup Bagchi Appointed MD & CEO
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THE BRIEF
1
HDFC Bank ADRs jumped 5.4% in Thursday's intraday trade to $23.55 on the NYSE after appointing Anup Bagchi as MD and CEO for three years starting October 27, 2026.
2
The Reserve Bank of India approved the appointment of Bagchi, who currently serves as MD and CEO of ICICI Prudential Life Insurance and will succeed Sashidhar Jagdishan.
3
The leadership transition comes as HDFC Bank shares have fallen 27.2% in 2026, putting the stock on track for its biggest annual decline since 2008.