Sumant Kathpalia to be IndusInd Bank’s CEO
IndusInd Bank has named Sumant Kathpalia as the new MD and CEO of the bank. He will take over from Romesh Sobti upon the latter’s superannuation. Kathpalia, 55, is at present the head of consumer loans at the bank. The bank said the proposal has been forwarded to the Reserve Bank of India for approval. Sobti, who has been at the helm of the bank for over a decade, will be retiring in March 2020. Kathpalia has been with the bank since 2008 and he is responsible for building the consumer loans portfolio from scratch, as part of a strategy to diversify the loan book adopted by the bank. Prior to his stint in IndusInd Bank, he was heading the consumer loans vertical at ABN Amro Bank. He has also worked in Citi and Bank of America.