New Delhi: The country’s largest private sector lender, ICICI Bank, may consider appointing its executive director Madhavi Puri Buch as the chief of its investment banking arm, ICICI Securities.
The board of directors of ICICI Bank is meeting Monday and besides other issues it may consider appointment of two new functional directors in the place of K. V. Kamath and Buch.
Buch, if approved by board, would replace S. Mukherji as managing director of ICICI Securities, sources close to the development said.
At present, Madhabi Puri Buch is the executive director on the board of ICICI Bank and manages the global markets business covering treasury solutions, the global operations group covering operations and transaction processing for retail, corporate, international and rural banking.
Besides, she continues to be the chief brand officer for the ICICI Group and also looks after the quality and organisational excellence function of the bank.
When contacted, ICICI spokesperson refused to comment on the board meeting.
The development comes less than 15 days after the board decided to appoint Chanda Kochhar as successor of current MD and CEO K. V. Kamath, who demits office on 30 April.
Kamath would become a non-executive chairman after his retirement as ICICI Bank CEO and MD on 30 April. He would hold the post for five years.