ICICI Bank Announces Leadership Change in Compliance Department

ICICI Bank announces the early retirement of Group Chief Compliance Officer Subir Saha and appoints Anish Madhavan as the new GCCO. Madhavan has 29 years of experience in banking and finance, with a background in compliance and financial crime prevention. The leadership change is expected to impact the bank's compliance operations.

Mumbai, July 2, 2025: ICICI Bank has announced significant changes in its senior management, with the early retirement of Group Chief Compliance Officer (GCCO) Subir Saha and the appointment of Anish Madhavan as the new GCCO. The changes took effect on August 28 and 29, 2025, respectively.

Subir Saha, who had been serving as GCCO, has accepted early retirement, effective from the close of business hours on August 28, 2025. This move has been accepted by the board of ICICI Bank [1].

In his place, Anish Madhavan, an existing senior management personnel (SMP), has been appointed as the new GCCO. Madhavan will assume his role with effect from August 29, 2025 [2]. He brings with him extensive experience in banking and finance, with a career spanning 29 years. Madhavan has held various roles within ICICI Group, including Head of Cards and Payment Solutions, Group Chief Internal Auditor, and Head of Financial Crime Prevention Group. Notably, he was responsible for the compliance function in the bank's India operations between 2015 and 2021 [1].

The appointment of Madhavan is expected to have a significant impact on ICICI Bank's compliance operations. His background in compliance and financial crime prevention positions him well to lead the bank's efforts in ensuring regulatory adherence and mitigating financial risks [3].

ICICI Bank, based in Mumbai, India, is a leading financial institution offering a wide range of products and services, including retail banking, corporate banking, and treasury operations. The bank serves both domestic and international clients, with a strong focus on robust financial performance and capital position [3].

References:
[1] https://www.psuconnect.in/bank-news/anish-madhavan-appointed-as-group-chief-compliance-officer-of-icici-bank
[2] https://www.capitalmarket.com/markets/news/corporate-news/icici-bank-announces-change-in-senior-management/1633823
[3] https://www.tipranks.com/news/company-announcements/icici-bank-announces-leadership-change-in-compliance