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CHANDA KOCHHAR

PROFILE:
Ms. Chanda Kochhar is the Managing Director and Chief Executive Officer of ICICI Bank Limited. She began her career with ICICI as a Management Trainee in 1984 and has thereon successfully risen through the ranks by handling multidimensional assignments and heading all the major functions in the Bank at various points in time.

In 1993 when ICICI decided to enter commercial banking, she was deputed to ICICI Bank as a part of the core team to set up the bank. When ICICI set up the Infrastructure Industry Group in 1996 to create dedicated industry expertise in the areas of Power, Telecom and Transportation sector, she was handpicked and made in charge of the Infrastructure Industry Group.

In July 2000, she was chosen to head the Retail Finance division of ICICI and has been instrumental in scaling up the business. In April 2001, she was promoted as an Executive Director, heading the retail business in the Bank. In April 2006, she was appointed as the Deputy Managing Director with responsibility for both Corporate and Retail banking business of ICICI Bank and from October 2006 to October 2007 she handled the International and Corporate businesses of ICICI. In October 2007, she was appointed as the Joint Managing Director & CFO. She was heading the Corporate Centre, was the Chief Financial Officer (CFO) and was also the official spokesperson for ICICI Bank.

INTRODUCTION:
In India's male dominated banking sphere, Chanda Kochhar carved a niche for herself. This was no easy task. In her career which extends to over three decades of experience, she remained strong willed and alert. Her determination to make it to the top only grew from year to year. Kochhar's career growth can be traced along with the expansion of the bank over the past several years. She never stuttered in her growth and was one of the few who kept up with the aggressive development run of ICICI bank. It was her sharp strategic planning which made the ICICI bank the 'Best Retail Bank in India' for five consecutive years. As per Forbes, It's no wonder then that she has been ranked 20th amongst the most powerful women in business and in the world.

EARLY-LIFE: Chanda Kochhar was born in Jodhpur in Rajasthan on November 17, 1961, but was raised in Jaipur in Rajasthan. She then joined Jai Hind College in Mumbai for a Bachelor of Arts degree. After completing her graduation in 1982, she pursued cost accountancy (ICWAI). Later, she did her Master's degree in management studies from the esteemed Jamnalal Bajaj Institute of Management Studies in Mumbai from where she received a Wockhardt Gold Medal for Excellence in Management Studies. In the same year, she won the J.N Bose gold medal for Cost Accountancy.

CAREER:
In 1984, after her masters, Chanda Kochhar joined 'The Industrial Credit and Investment Corporation of India Limited' or ICICI Limited as a management trainee. In her initial years in ICICI, she handled project appraisal and monitoring and various projects in Petrochemicals, Textile and Cement and Paper. In 1994, she became the Assistant General Manager and was promoted to the post of Deputy General Manager in 1996. She headed the Infrastructure Industry Group of ICICI. In 1999, she was promoted as the General Manager and became the head of ICICI's 'Major Client Group' which handled relationships with the top 200 clients of the organisation. In 1999, she started handling the Strategy and Ecommerce divisions of ICICI. Under Kochhar's leadership, ICICI began its retail business in 2000 and in the next five years, became the biggest retail financer in India. In 2001, she became the executive director of ICICI bank. In April 2006, she was appointed as the Deputy Managing Director of ICICI bank and managed the corporate and retail banking business of ICICI bank. From October 2007 to April 2009, she was the Chief Finance Officer (CFO), Joint Managing Director (JMD), and the official spokesperson of ICICI. She was also the head of the Corporate Centre of ICICI bank, the director of the ICICI group of companies, Chairperson of ICICI Bank Eurasia Limited Liability Company and ICICI Investment Management Company Limited. Chanda Kochhar also held the positions of ViceChairperson of ICICI Bank UK and ICICI Bank Canada and the position of Director of ICICI International Limited and ICICI Prudential Life Insurance Company Limited. In May 2009, she was appointed as the Managing Director and the Chief Operating Officer of ICICI bank for a term of five years.

CONTRIBUTIONS:
Chanda Kochhar was a part of the core team when ICICI decided to set the ICICI Bank 1993. In 2000, when the organisation decided to develop its wings, she decided to keep the bank open for twelve hours in a day when other banks were open for four to seven hours a day. She was also one of the bankers who came up with electronic banking and installed 2000 ATM machines all over India. Under Kochhar's leadership, ICICI was awarded the 'Best Retail Bank in India' in 2001, 2003, 2004 and 2005. In 2002, the bank was given the 'Excellence in Retail Banking Award'.

LEGACY:
Chanda Kochhar is one amongst the two women who is the head of an Indian domestic bank. Joining the ICICI bank as a management trainee, she was instrumental in making ICICI bank the largest retail financer in India. She is an inspiration to women all over the world.

AWARDS AND ACCOLADES:


'Retail Banker of the Year' (Asia - Pacific region) by The Asian Banker, 2004 'Business Woman of the Year' by The Economic Times, 2005 'Rising Star Award' for Global Awards by Retail Banker International, 2006 Featured in the list of '30 Most Powerful Woman Leaders' in business for 8 consecutive years from 2002 to 2010 'Transformational Business Leader of the Year' by All India Management Association, 2010 Ranked 10th in the Fortune's List of 'Most Powerful Women in Business', 2010 Ranked 92nd in the Forbes List of 'Most Powerful Women' in the world, 2010 'Outstanding Woman Business Leader of the Year' award by CNBC TV18, 2010' Ranked 11th in the List of 'Top 50 Woman in World Business' by the Financial Times, 2010 Padma Vibhushan, 2011. Her profile speaks a lot about her achievements and contributions:

PROFESSIONAL AFFILIATIONS:
Apart from being on the Board of ICICI Bank and various group companies, she is a member of the Prime Minister's Council on Trade & Industry, US-India CEO Forum, Executive Board of the Indian School of Business, Hyderabad, Member of the Board of Governors of Indian Council for Research on International Economic Relations (ICRIER),

Member of the Managing Committee of the Indian Banks Association and also a member of the Council of Scientific and Industrial Research (CSIR) Society.

TIMELINE :
1961 - Born in Jodhpur in Rajasthan. 1982 - Completed her graduation and pursued cost accountancy. 1984 - Joined 'The Industrial Credit and Investment Corporation of India Limited' or ICICI Limited. 1994 - Became the Assistant General Manager of ICICI bank. 1996 - Became the Deputy General Manager. 1999 - Took over as the General Manager and became the head of ICICI's 'Major Client Group'. 2000 - ICICI began its retail business under Kochhar's leadership. 2001 - Became the executive director of the ICICI bank. 2006 - Appointed as the Deputy Managing Director of ICICI bank. 2009 - Appointed as the Managing Director and the Chief Operating Officer of ICICI bank. 2011 - Awarded Padma Vibhushan

What Chanda Kochhar did to India is not just limited to the field of banking and finance, but she inspired many women in the country by achieving so much in a male dominant society. She is not just the MD and CEO of ICICI but a role model to many young Indians.