Anup Bagchi has taken charge as the managing director and CEO of HDFC Bank.

Bagchi’s predecessor, Sashidhar Jagdishan, vacated office on Monday after the completion of his term.

Bagchi, an ICICI Group veteran, is the first outsider to head HDFC Bank. He is the third CEO in the bank’s over-three-decade history. His previous assignment was as the MD and CEO of ICICI Prudential Life Insurance.

In the earnings call which he attended on 17 October, Bagchi said that he would engage with regulators, customers, shareholders and other stakeholders in the near term to gather insights. “I will soon present a perspective on growth, margins, quality and productivity built on disciplined capital deployment and a strong execution culture grounded in governance, excellence and trust,” he said.