Private lender IndusInd Bank – navigating through recent accounting lapses in its derivative and MFI book - has roped in Pankaj Sharma, a former chief strategy officer with the Yes Bank as the head of business transformation, sources aware of the development have told Moneycontrol.
“It’s been about a week since he has joined the bank,” said a banker who did not wish to be named. This is the third significant hire at IndusInd Bank after Rajiv Anand took charge as MD & CEO of the lender on August 25.
Earlier in September, the bank had announced that Viral Damania, who most recently served as the chief financial officer (CFO) at Bank of America India, has been roped in as the CFO, replacing Gobind Jain, and Anand Vardhan as General Counsel of the bank. Vardhan was earlier the group general counsel at the Piramal Group.
An email sent to IndusInd Bank seeking confirmation on Sharma’s appointment remained unanswered till the time of publishing of the article.
Sources indicated that internally, Sharma is seen as taking over from Anil Rao, the current head of operations at IndusInd Bank. Rao, an old-timer at IndusInd Bank, was earlier a part of the committee of executives when Sumant Kathpalia had stepped down as the CEO of the lender.
Anil Rao is set to superannuate in a few weeks and may not to seek an extended tenure.
About Pankaj Sharma
Pankaj Sharma is a banker with over 25 years of experience, with his last assignment as the chief strategy officer at Yes Bank. He was among the four employees who were let go by the bank in April this year when Yes Bank went through a strategic restructuring. Prior to Yes Bank, Sharma was with RBL Bank as chief operating officer.
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