IndusInd Bank Limited announced the re-appointment of Sumant Kathpalia as Managing Director and Chief Executive Officer of the bank, with effect from March 24, 2023.
According to the company’s exchange filing, “This is with reference to our letter dated March 10, 2023 with respect to re-appointment of Mr. Sumant Kathpalia (DIN: 01054434) as Managing Director & CEO of the Bank for a further period of 2 years with effect from March 24, 2023.”
Sumant Kathpalia is a career banker with years of rich experience in large multi-national banks such as Citibank, Bank of America and ABN AMRO prior to joining IndusInd Bank. Sumant has successfully led several leadership roles over his career spanning 30 years with focus on driving business growth and innovation. At IndusInd Bank, Sumant Kathpalia has been part of the core leadership team that joined the Bank 12 years ago and has been pivotal in turning the bank around. He has been a key member of the top level executive committee looking at bank wide financial management, managing investor relations and involved in evaluating inorganic growth opportunities. In his prior role as Head-Consumer Bank at IndusInd, Sumant has been instrumental in setting up several new businesses from scratch to cater to the needs of Individual and SME segments while successfully balancing growth with quality and compliance to regulatory and internal guidelines. He also led expansion of the consumer distribution franchise and has been instrumental in positioning IndusInd Bank as a customer responsive bank with a slew of industry first innovations for clients.
Prior to joining IndusInd Bank, he worked with ABN AMRO where he held several critical leadership positions including Head-Consumer Bank for ABN AMRO, India. Prior to ABN AMRO, Sumant spent a decade at Bank of America and he started his career with Citibank; where he held positions across functions including Business Growth & Strategy, Sales & Distribution, Operations, Systems, Risk Management and Financial Management.
Sumant Kathpalia is a Qualified Chartered Accountant and graduate in B Com (Hons.) from Hindu College, Delhi University.
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