According to a report by Moneycontrol, IndusInd Bank, a private bank in India, has hired Pankaj Sharma as the Head of Business Transformation.. This move comes as the bank deals with recent issues in its derivatives and microfinance (MFI) portfolios.
Who is Pankaj Sharma?
Pankaj Sharma has over 25 years of experience in the banking industry. He is an experienced banker who earlier worked at Yes Bank as its Chief Strategy Officer. He was one of four senior employees let go in April 2025, when Yes Bank was undergoing a restructuring. He also held a senior leadership role at RBL Bank as Chief Operating Officer.
Sources told Moneycontrol that Sharma joined the bank about a week ago and is expected to succeed Anil Rao, the current Head of Operations at IndusInd Bank, who is nearing retirement. Rao has been with the bank for many years and was part of the executive committee after the former CEO, Sumant Kathpalia, stepped down.
This is the third major leadership change at IndusInd Bank since Rajiv Anand became the new MD & CEO on August 25. Earlier, the bank also appointed:
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Viral Damania as the new Chief Financial Officer (CFO) replacing Gobind Jain. Damania was previously the CFO of Bank of America India.
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And Anand Vardhan as the General Counsel , who earlier served as Group General Counsel at the Piramal Group.
The bank hasn’t officially confirmed Sharma’s appointment yet, as they didn’t respond to emails from reporters.