Chanda Kochhar
Encyclopedia
Chanda Kochhar is currently the Managing Director (MD) of ICICI Bank
and Chief Executive Officer (CEO). ICICI Bank is India
's largest private bank and overall second largest bank in the country. She also heads the Corporate Centre of ICICI Bank.
, Rajasthan
and raised in Jaipur
, Rajasthan
. She then moved to Mumbai
, where she joined Jai Hind College
for a Bachelor of Arts
degree. After graduating in 1982 she then pursued Cost Accountancy ICWAI, Later, she acquired the Masters Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies
, Mumbai
. She received the Wockhardt Gold Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy for highest marks in the same year.
Chanda Kochhar currently resides in Mumbai, and is married to Deepak Kochhar, a wind energy entrepreneur and her Business schoolmate. She has two children, a son and a daughter.
(CFO), Joint Managing Director (JMD) and the official spokesperson. She also headed the Corporate Centre of ICICI Bank. She is also a director of different ICICI group companies. She is the chairperson of ICICI Bank Eurasia Limited Liability Company and ICICI Investment Management Company Limited. Kochhar is the Vice-Chairperson of ICICI Bank UK PLC and ICICI Bank Canada
. She is a director in ICICI International Limited and ICICI Prudential
Life Insurance Company Ltd. and part of the Governing Council in 1964. The ICICI Foundation for Inclusive Growth-Member.
Kochhar is CEO and MD of ICICI Bank from May 2009 for a period of five years. She succeeds K. V. Kamath
, who was CEO of the bank since 1996.
)" by the Asian Banker, "Business Woman of the Year 2005" by The Economic Times
and "Rising Star Award" for Global Awards 2006 by Retail Banker International. Kochhar has also consistently figured in Fortunes list of "Most Powerful Women in Business" since 2005. She climbed up the list debuting with the 47th position in 2005, moving up 10 spots to 37 in 2006 and then to 33 in 2007. In the 2008 list, Kochhar features at the 25th spot. In 2009, she debuted at number 20 in the Forbes "World's 100 Most Powerful Women list". She is the second Indian in the list behind the ruling Indian National Congress
party chief Sonia Gandhi
at number 13. In 2010, she fell to number 92 in the Forbes list, but in 2011 bounced back to 43.
Kochhar has also consistently figured in Fortune
's list of "Most Powerful Women in Business" since 2005. In 2009, she debuted at number 20 in the Forbes
"World's 100 Most Powerful Women list", and climbed to the 10th spot in 2010. In 2011, she featured in Business Today
s list of the "Most Powerful Women - Hall of Fame". In 2011, she also featured in the "The 50 Most Influential People in Global Finance" List of Bloomberg Markets
.
Kochhar is honoured with Padma Bhushan
Award, the third highest civilian honour by the Government of India for the year 2010 for her services to banking sector.
ICICI Bank
ICICI Bank Ltd. is India's second largest financial services company headquartered in Mumbai, India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of...
and Chief Executive Officer (CEO). ICICI Bank is India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
's largest private bank and overall second largest bank in the country. She also heads the Corporate Centre of ICICI Bank.
Early life
Chanda Kochhar was born in JodhpurJodhpur
Jodhpur , is the second largest city in the Indian state of Rajasthan. It is located west from the state capital, Jaipur and from the city of Ajmer. It was formerly the seat of a princely state of the same name, the capital of the kingdom known as Marwar...
, Rajasthan
Rajasthan
Rājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
and raised in Jaipur
Jaipur
Jaipur , also popularly known as the Pink City, is the capital and largest city of the Indian state of Rajasthan. Founded on 18 November 1727 by Maharaja Sawai Jai Singh II, the ruler of Amber, the city today has a population of more than 3.1 million....
, Rajasthan
Rajasthan
Rājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
. She then moved to Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, where she joined Jai Hind College
Jai Hind College
Jai Hind College is a prominent college in Mumbai, India, affiliated with University of Mumbai.Established in 1948 by a small group of teachers who worked at D. J. Sind College of Karachi,under the supervision of Dr. Mohinder-Miles Morton, it is currently located at 'A' Road, Churchgate.The...
for a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
degree. After graduating in 1982 she then pursued Cost Accountancy ICWAI, Later, she acquired the Masters Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies
Jamnalal Bajaj Institute of Management Studies
Jamnalal Bajaj Institute of Management Studies is the Department of Management Studies of the University of Mumbai and is the third oldest business school in India...
, Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
. She received the Wockhardt Gold Medal for Excellence in Management Studies as well as the J. N. Bose Gold Medal in Cost Accountancy for highest marks in the same year.
Chanda Kochhar currently resides in Mumbai, and is married to Deepak Kochhar, a wind energy entrepreneur and her Business schoolmate. She has two children, a son and a daughter.
1984–1993
In 1984, Chanda Kochhar joined "The Industrial Credit and Investment Corporation of India Ltd" or ICICI Ltd. as a Management trainee after her Masters. In her early years in ICICI, she handled Project Appraisal and Monitoring and projects in various industries like Petrochemicals, Textile, Paper and Cement.1993–2006
In 1993, Kochhar was sent to ICICI bank as part of a core team to set the bank. She was promoted to Assistant General Manager in 1994 and then to Deputy General Manager in 1996. In 1996, Kochhar headed the newly formed the Infrastructure Industry Group of ICICI, which aimed "to create dedicated industry expertise in the areas of Power, Telecom and Transportation". In 1998, she was promoted as the General Manager and headed ICICI's “Major Client Group”, which handled relationships with ICICI's top 200 clients. In 1999, she also handled the Strategy and E-commerce divisions of ICICI. Under Kochhar's leadership, ICICI bank started the Retail business in July 2000 and emerged the largest retail financer in India, in the next five years. In April 2001, she took over as Executive Director, heading the in ICICI Bank.2006–present
In April 2006, Chanda Kochhar was appointed as Deputy Managing Director of ICICI Bank. She managed the Corporate and Retail banking business of ICICI Bank. From October 2006 to October 2007, she handled the International and Corporate businesses of ICICI Bank. From October 2007 to April 2009, Kochhar was also the bank's Chief Financial OfficerChief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
(CFO), Joint Managing Director (JMD) and the official spokesperson. She also headed the Corporate Centre of ICICI Bank. She is also a director of different ICICI group companies. She is the chairperson of ICICI Bank Eurasia Limited Liability Company and ICICI Investment Management Company Limited. Kochhar is the Vice-Chairperson of ICICI Bank UK PLC and ICICI Bank Canada
ICICI Bank Canada
ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited, which has its headquarters in Mumbai, India.ICICI Bank Limited is India's largest private sector bank as measured by asset base as of December 31, 2009 and the second largest bank in the country with consolidated total assets of...
. She is a director in ICICI International Limited and ICICI Prudential
ICICI Prudential
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, one of the foremost financial services companies of India and Prudential plc, one of the leading international financial services group headquartered in the United Kingdom...
Life Insurance Company Ltd. and part of the Governing Council in 1964. The ICICI Foundation for Inclusive Growth-Member.
Kochhar is CEO and MD of ICICI Bank from May 2009 for a period of five years. She succeeds K. V. Kamath
K. V. Kamath
Kundapur Vaman Kamath is the Chairman of Infosys Limited, the second-largest IT services company in India, and Non-Executive Chairman of ICICI Bank, India's largest private bank. Mr...
, who was CEO of the bank since 1996.
Recognition
Under Kochhar's leadership, ICICI Bank won the “Best Retail Bank in India” award in 2001, 2003, 2004 and 2005 and “Excellence in Retail Banking Award” in 2002; both awards were given by The Asian Banker. Kochhar personally was awarded "Retail Banker of the Year 2004 (Asia-Pacific regionAsia-Pacific region
Asia-Pacific region may refer to:*Asia-Pacific, a geographic designation*Asia-Pacific Scout Region *Pacific Rim, countries and cities located around the edge of the Pacific Ocean...
)" by the Asian Banker, "Business Woman of the Year 2005" by The Economic Times
The Economic Times
The Economic Times is an English-language Indian daily newspaper published by the Bennett, Coleman & Co. Ltd.. The Economic Times was started in 1961. It is the most popular and widely read financial daily in India, read by more than 8 lakh people...
and "Rising Star Award" for Global Awards 2006 by Retail Banker International. Kochhar has also consistently figured in Fortunes list of "Most Powerful Women in Business" since 2005. She climbed up the list debuting with the 47th position in 2005, moving up 10 spots to 37 in 2006 and then to 33 in 2007. In the 2008 list, Kochhar features at the 25th spot. In 2009, she debuted at number 20 in the Forbes "World's 100 Most Powerful Women list". She is the second Indian in the list behind the ruling Indian National Congress
Indian National Congress
The Indian National Congress is one of the two major political parties in India, the other being the Bharatiya Janata Party. It is the largest and one of the oldest democratic political parties in the world. The party's modern liberal platform is largely considered center-left in the Indian...
party chief Sonia Gandhi
Sonia Gandhi
Sonia Gandhi is an Italian-born Indian politician and the President of the Indian National Congress, one of the major political parties of India. She is the widow of former Prime Minister of India, Rajiv Gandhi...
at number 13. In 2010, she fell to number 92 in the Forbes list, but in 2011 bounced back to 43.
Kochhar has also consistently figured in Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
's list of "Most Powerful Women in Business" since 2005. In 2009, she debuted at number 20 in the Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
"World's 100 Most Powerful Women list", and climbed to the 10th spot in 2010. In 2011, she featured in Business Today
Business Today (Business Magazine)
Business Today is an Indian fortnightly business magazine published by Living Media India Limited, in publication since 1992. It had a second quarter 2010 readership of 338,000 per issue, ninth among English language magazines surveyed.-External links:...
s list of the "Most Powerful Women - Hall of Fame". In 2011, she also featured in the "The 50 Most Influential People in Global Finance" List of Bloomberg Markets
Bloomberg Markets
Bloomberg Markets is a monthly magazine published by Bloomberg L.P.. It is aimed at financial experts and professionals. It focuses on financial decisions and philosophies of major personalities in the financial world, such as the CEOs of large banks and the people who wield political power over...
.
Kochhar is honoured with Padma Bhushan
Padma Bhushan
The Padma Bhushan is the third highest civilian award in the Republic of India, after the Bharat Ratna and the Padma Vibhushan, but comes before the Padma Shri. It is awarded by the Government of India.-History:...
Award, the third highest civilian honour by the Government of India for the year 2010 for her services to banking sector.