Anup Kumar Saha To Lead Kotak Mahindra Bank From January 2027: From Bajaj Finance MD To New CEO

Anup Kumar Saha will take over as Kotak Mahindra Bank’s Managing Director and Chief Executive Officer from January 1, 2027, after the Reserve Bank of India approved his appointment for a three-year term.

Saha will succeed Ashok Vaswani, whose current term ends on December 31, 2026. The appointment comes less than a year after Saha joined Kotak Mahindra Bank and marks a quick move to the top job at the private lender.

Kotak Mahindra Bank shares rose around 3% in early trade on Thursday after the appointment was announced, even as the broader market remained under pressure. The stock gained as much as 3.66% to ₹432.30 on the NSE, while the Nifty 50 was lower in morning trade.

Saha joined Kotak Mahindra Bank in January 2026 and became an Executive Director in March. He currently oversees the Retail Bank, Government Business, Data Analytics and Marketing functions.

Before joining Kotak, Saha spent more than eight years at Bajaj Finance, where he rose to Managing Director and CEO. He also spent 14 years at ICICI Bank in senior roles across retail banking, credit cards, analytics and structured finance.

Anup Kumar Saha’s Move From Bajaj Finance To Kotak

Saha brings more than 32 years of professional experience, including 25 years in financial services across banks and non-banking financial companies.

He joined Bajaj Finance in October 2017 as President–Consumer Finance and subsequently held several senior positions, including Deputy CEO, Executive Director and Deputy Managing Director. He became Managing Director and CEO in April 2025 and resigned from the position in July 2025.

Before Bajaj Finance, Saha spent 14 years at ICICI Bank between 2003 and 2017. His responsibilities there included retail secured assets, business intelligence, retail and rural collections, credit cards and retail structured finance.

His experience has therefore largely been centred on retail and consumer finance, analytics and operating businesses areas that are also part of his current responsibilities at Kotak Mahindra Bank.

What Anup Saha’s Appointment Means For Kotak Mahindra Bank

Saha is already familiar with Kotak’s operations, having joined the bank earlier this year and taken charge of several key functions. His current responsibilities include retail banking, government business, data analytics and marketing.

That background could be relevant as Kotak Mahindra Bank works on retail growth, customer relationships and greater use of data and digital capabilities. When Saha joined the bank, Kotak said his experience in scaling businesses, digital transformation and customer-focused strategies would strengthen its leadership team.

The bank has also described his appointment as part of its next phase of growth. Saha said he would focus on deepening customer relationships, execution and building sustainable value for shareholders and other stakeholders.

Kotak Mahindra Bank Shares Rise After CEO Appointment

Kotak Mahindra Bank shares stood out in Thursday’s market, rising around 3% after the announcement even as 11 of 16 major sectoral indices were trading lower.

The stock touched an intraday high of ₹432.30 on the NSE, according to early-session data. The broader Nifty 50 was down 0.28% around 9:44 AM, while the Sensex fell 0.12%.

The market reaction came as investors absorbed the leadership transition ahead of Saha taking charge in January.

The appointment is subject to further formalities, including approval from the bank’s members. Kotak Mahindra Bank’s board will initiate the process before Saha formally takes over from Vaswani on January 1, 2027.

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