IndusInd Bank's treasury head Siddharth Banerjee is set to step down in April 2026, according to three sources with knowledge of the matter reported by The Hindu BusinessLine. Banerjee, who has been the head of the global markets group at IndusInd Bank since 2020, has informed the management about his decision. The bank has not yet responded to queries seeking comment on the planned exit, with IndusInd Bank shares likely to remain in focus following the leadership announcement. Banerjee told Reuters via mobile text message: "I am the head of markets and still working for the bank."
This marks the latest senior leadership change at the mid-sized private lender, following a significant period of management restructuring. The bank has seen several top leadership exits over the past year after reporting its largest-ever quarterly loss in the quarter ended March 2025, following a $230 million hit tied to governance and accounting failures. The management changes include the exits of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana, with Chairman Sunil Mehta also stepping down after his term ended in January. Leadership changes at senior levels are closely watched by investors as they can influence strategic decisions, particularly in areas such as treasury and global markets operations within banks.
IndusInd Bank has appointed a new CFO, a chief human resources officer and several other senior executives as part of its restructuring efforts. CEO Rajiv Anand said in November that recruitment will continue as the bank restructures its management. According to The Hindu BusinessLine, the lender has also appointed a new CFO and chief human resources officer, along with several other senior executives as part of its restructuring efforts. Further clarity is expected once the bank officially comments on the development or announces any replacement for the treasury head role.
The reason for Banerjee's planned exit could not be determined, with sources requesting anonymity as they are not authorized to speak publicly on the matter. Banerjee has been heading IndusInd Bank's global markets group since 2020, overseeing treasury operations and the bank's market-related activities. The sources requested anonymity as they are not authorized to speak to the media about the matter, highlighting the sensitive nature of senior leadership transitions at the private sector lender.
