India's Top Private Banks Struggle to Find New CEOs

HDFC Bank Ltd. and Kotak Mahindra Bank Ltd. are both searching for new chief executive officers, highlighting a shortage of qualified executive leadership within the Indian banking sector. The struggle for top talent persists despite the high number of Indian-born executives leading global financial institutions such as Citigroup Inc. and Deutsche Bank AG.

HDFC Bank, the largest private bank in India, began its search after the incumbent chief executive declined an extension of their term. Kotak Mahindra Bank is currently conducting its second CEO search in three years. Both institutions lack clear internal successors, which has complicated the recruitment process for these critical leadership roles.