IndusInd Bank has named Rajiv Anand as its new managing director and CEO for a period of three years.

The tenure of Anand, former deputy MD of Axis Bank, will be from 25 August 2025 up to 24 August 2028.

Anand will take charge at a time when IndusInd Bank has been reeling under charges of accounting lapses in its derivatives portfolio. The private sector lender has been without a CEO after Sumant Kathpalia resigned in late April, taking moral responsibility of the accounting lapses. In the interim, the bank formed a committee of senior executives, including consumer banking head Soumitra Sen and chief administrative officer Anil Rao, to manage operations.

Anand retired as deputy managing director of Axis Bank on 3 August upon completion of his third term as a director on the bank's board.

Anand is a chartered accountant with over 35 years of experience across asset management, retail banking and wholesale banking.

He joined Axis Asset Management Co. in 2009 as its founding MD and CEO. In his next assignment, he was appointed president of retail banking at Axis Bank in 2013. Subsequently, he was inducted into the board of Axis Bank and took over as the head of wholesale banking in 2018.