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Private sector lender IndusInd Bank is on a CXO hiring spree as its new MD and CEO Rajiv Anand aims to build a new, clean leadership team after the exit of former MD and CEO Sumant Kathpalia, and former Deputy CEO Arun Khuranna, following the ₹2,000 crore accounting discrepancies fiasco. “During the quarter, we saw Viral, our new CFO joining; our new head of internal audit, Pragati, our new legal counsel Anand Vardhan, and our new head of business transformation Pankaj Sharma have joined. And they have been in the bank for anything between, let us say, 15-20 days to about 30-40 days,” said Anand on October 18. He said the lender will onboard a new CEO for its micro-loan vertical BFIL by the end of November. According to sources, the lender is in the process of hiring new heads for both corporate and retail loan verticals; a chief information officer (CIO); chief digital officer (CDO); head of HR; and head of global markets and treasury department, among other roles. “The bank is looking to hire key officials in the retail, wholesale and treasury departments after the exit of former officials who were made to leave post the derivatives portfolio incident. Rajiv wants to build leadership team with a clean slate for efficiency in core operations,” said a source aware of the development, adding that the new hirees will be designated at the Senior Executive Vice-President and Executive Vice-President level. Attrition rate Apart from hiring senior executives, the bank currently has over 10,000 vacancies across junior to mid, and mid-to senior level roles, according to its website. The attrition rate of IndusInd Bank stood at 29 per cent in FY25 versus 37 per cent in FY24. ENDS More Like This Published on November 2, 2025
