Will Sandeep Bakhshi do a PruLife at ICICI Bank?4 min read 19 Jun 2018, 04:29 PM IST
Sandeep Bakhshi is uniquely poised to make deep changes in the way banks sell insurance policies and mutual funds
Soft spoken and unhurried, Sandeep Bakhshi is probably the best placed today to calm the turbulent waters at ICICI Bank Ltd. More Warren Buffett than The Wolf of Wall Street, Bakhshi is a career banker who has now successfully run the insurance piece of the financial services empire of the ICICI Group of companies. He’s done this before—come into a bad situation and turned it around. Bakhshi was brought in to lead ICICI Prudential Life in 2010 at a difficult time. He inherited an aggressive sales-at-any-cost culture set in place by the firm’s first chief executive, Shikha Sharma. ICICI Prudential Life had been infamously in trouble over its “Operation Jehad" in 2005, when one of the branches used the name and images of Osama Bin Laden to motivate the sales force. Insurance policy sales were “kills", and five ICICI Prudential Life employees were jailed over this episode. You can read more about this here.