The likely front runner to replacing Romesh Sobti at IndusInd Bank as MD and CEO may be Sumant Kathpalia. Sumant Kathpalia currently heads the consumer banking division of the bank from their New Delhi office.

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A chartered accountant by qualification, Kathpalia was earlier the head of consumer banking division at ABN Amro. Kathpalia has also worked with Citibank and Bank of America earlier. Sumant Kathpalia has been attending various brokerage conferences in India and abroad, representing IndusInd Bank.

It is also learnt that Romesh Sobti won’t be leaving IndusInd Bank. He may be offered a non-executive position in the bank and this augurs well for investors from a governance point of view.

Romesh Sobti is set to retire in March 2020 and in an interview to CNBC-TV18 recently had said, that his successor’s name would be announced by October 2019.

IndusInd Bank has not yet responded to CNBC-TV18’s query on the story.

First Published:Oct 9, 2019 3:08 PM IST