While announcing its quarterly and year-ended result for March 2022 period, ICICI Bank on Saturday made key changes in its board panel. Rakesh Jha has been appointed as the Wholetime Director of the bank, and will hence cease to be Group Chief Financial Officer from May 1.
In its regulatory filing, ICICI Bank said that the Board of Directors has approved the appointment of Rakesh Jha as a Wholetime Director (designated as Executive Director) subject to regulatory approvals for five years effective from May 1, 2022, or the date of approval of his appointment by RBI, whichever is later.
With the new post, Jha would cease to be the Group Chief Financial Officer and Key Managerial Personnel of the Bank effective May 1, 2022.
Jha is an engineering graduate from the Indian Institute of Technology at Delhi and a post-graduate in management from the Indian Institute of Management, Lucknow. He joined ICICI Limited in 1996 in the Planning & Treasury Department.
With around 25 years of experience at ICICI, Jha has worked across various functions including financial planning and analysis, accounting, treasury, strategy, and investor relations, and has deep knowledge of the banking business.
At present, Jha is the Group Chief Financial Officer of the bank and heads the Performance Information and Value Management Group, (responsible for bank-wide planning & performance analysis, management information systems, capital planning and optimization, strategic assignments, and analyst & investor relations), Financial Accounting & Reporting group and Asset Liability Management Group.
To take the role of Rakesh Jha after he resumes his new post, the bank’s board approved the appointment of Anindya Banerjee as the Group Chief Financial Officer and Key Managerial Personnel of the Bank.
Anindya Banerjee qualified as a chartered accountant (CA) in 1998 and was an all-India rank holder in the CA final examination. He joined the ICICI Group in 1998 and initially worked in the area of corporate banking before moving to the planning and strategy function in the corporate office. He was a key member of the team that worked on the merger of ICICI Limited with ICICI Bank.
Over the years, Banerjee has worked in the areas of investor and analyst relations, management of ICICI Bank’s external credit ratings, external reporting under Indian and U.S. securities laws, corporate planning and strategy, financial and business performance analysis, group company oversight, mergers and acquisitions, investments, management of the CEO’s office and corporate social responsibility (CSR).
Currently, Banerjee is the Head of Investor Relations and Strategy at the Bank. In this role, he has also been focused on the Bank’s Environment, Social, and Governance (ESG) initiatives, and reporting.
Apart from changes of the above-mentioned post, ICICI Bank board members also took on record the resignation of Vishakha Mulye, Executive Director with effect from May 31, 2022, consequent to her decision to pursue career opportunities outside the ICICI Group. The Board has placed on record its appreciation of her contribution to the Bank.