Chanda Koch Har

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CHANDA

KOCHHAR


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KOCHHAR

INTRODUCTION

Chanda kochhar is currently the Managing Director (MD) andchief Executive officer(CEO) of ICICI Bank. ICICI Bank is India s

largest private bank and overall second largest bank in the

country. She is widely recognised for her role in shaping the retail

banking sector in India and for her leadership of the ICICI Group,

as well as her contributions to various forums in India andglobally.

In 2014, She has been named among Fortunes 50 most

powerful women in business for the fourth consecutive year.

Under the leadership of kochhar, ICICI has transformed itselffrom corporate bank into a retail bank , and now a universal

bank.


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Early Life

Chanda kochhar was born in Jodhpur, Rajasthan on November17, 1961, but was raised in Jaipur, Rajasthan.

She 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 Masters degree in management studies from

esteem Jamna Lal 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 wonthe J.N Bose gold medal for cost accountancy.

1984 was the year in which Mrs Chanda Kochhar started her

professional career by joining The Industrial Credit and

Investment Corporation of India as management trainee.


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CAREER

Chanda Kochhar started her professional career in the year 1984

and can be divided into three phases.

1984-1993

The first phase is that from year 1984-1993. It was the year 1984that she joined The industrial credit and investment corporation of

India Ltd(ICICI ltd) as a management trainee. In her initial year inICICI , she handled project appraisal and monitoring and variousprojects in petrochemicals, textile and cement and paper.

1993-2006

The second phase was from 1993-2006. It was in this intermediate

phase of her life that she was sent to be a part of a core team ofbank and set it right. After 10 years of working in the same bankshe was given the responsibility to be the General Manager in 1994followed by which she became the Deputy General Manager in theyear 1996. She headed the infrastructure Industry Group of ICICI.


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ContinuedIn 1999, she was promoted as the General Manager and becamethe head of ICICIs Major Client Group which handled relationshipswith top 200 clients of the organisation. In the same year shestarted handling the strategy and E-commerce divisions of ICICI.Under Kochhars leadership, ICICI began its retail business in 2000and in the next five years ,became The biggest retail financer inIndia. In 2001, she became the Executive Director of ICICI Bank.

2006-till now

Finally the third phase started in 2006 and continuing till now. InApril 2006, Chanda kochhar was given the designation of Deputy

Managing Director of ICICI Bank . Using her unique skills shestarted to handle both international and corporate business of ICICIBank .Her designation was also advanced to Chief FinancialOfficer(CFO),Joint Managing Director(JMD) and also the Officialspoke person from 2007 to 2009.


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Continued

Also Mrs Kochhar is a director of different companies of ICICIGroup. She is the honourable chairperson of ICICI Bank Eurasia LtdLabiality Company. Today, being the MD and CEO of ICICI, She isalso director of ICICI International Ltd and ICICI Prudential LifeInsurance Company Ltd.

In addition to her responsibilities at the ICICI Group, MrsKochhar is a member of the Prime Ministers Council on Trade andIndustry, the Board of Trade, High level Committee on Financingand Infrastructure , US-India CEO Forum and UKIndia CEO Forum.She is a member of the Indian Council for the Research on

International Finance and International Monetary Conference. Shewas co-chair of the World Economic Forum s Annual Meeting in2011.

Kochhar s turnaround of ICICI has earned her many accolades andreward.


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PERSONAL LIFE

When Chanda Kochhar was born her family was dwelling in Jaipur. Her

father was a known figure in Jaipur and was a principle at anengineering college. The name of his father was Professor RoopchandAdvani.

Chanda Kochhar was a brilliant student and dreamt ofbecaming IAS Officer .However, destiny has something else for her.

Her father died when she was just thirteen and then her motherdecided to shift Mumbai along with her three children . Chandakochhar came to mumbai and started to see business world from closeproximity. She did her graduation and post graduation in Mumbai.

She is married to Deepak Kochhar , who is a successful wind

energy entrepreneur. Both of them were in the same batch at JamnaBajaj institute from where kochhar did her MBA. He has alwayssupported Chanda to the hilt. She believed that major part of hersuccess story is because of her husband.


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continued.

Chanda kochhar has one son and one daughter, Arjun and AartiKochhar. Aarti has just completed her engineering and Arjun is still

a school going boy and he is a sport enthusiast.


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Aarti has recently been engaged to Aditya Kaji


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Mentors to whom she owes her success

During her career, Kochhar drew on the lessons learnt from ICICIs

iconic Chairman Narayan Vaghul, as well as Kamath, both of whomhave deeply influenced her career.

Starting at ICICI around the same time Vaghul came to theinstitution, Kochhar made her mark early, being confirmed in her

job three months ahead of schedule. Vaghul identified Kochhars

talent quickly , and included her in a select team to drive thecomputerisation of ICICI. Several years later, Kochhar wasinstrumental in establishing the new banking entity in 1993 , whichlater become gaint as it is today.

In between ,she had taken on several roles at the institution,

heading the infrastructure finance and corporate banking businessin ICICI , and building the retail business in 2000.By 2006-07,Kochhar was leading ICICI Banks corporate and internationalbanking business at the time when Indian companies were


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Continuedaggressively making a mark on the global mergers and acquisition

landscape.Between 2007 and 2009, she had consolidated her position as its

joint MD and CFO. Mr Vaghul had a vision and he picked ChandaKochhar to lead the banking initiative.

Kochhar peers hold her in high esteem, Mr Vishwavir Ahuja who is aformer Indian head of Bank of America holds that Chanda is a verybright capable leader with admirable grit and determination. Herpersonality traits are responsible for the success she has achieved.

Kochharsmother was a powerful role model for her. Her family wasa sindhi family, a Hindu group whose member lost their land andwealth when they fled from Pakistan to India following Indiaspartition in 1947. After her father died her mother worked as adesigner in a clothing boutique to support her three children. Shewas a great source of inspiration for her.


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Profile of ICICI Bank

TYPE PRIVATE BANK

Position Second largest Bank in India

Total Asset Rs 5,367.95 billion (US $ 99 billion) as on 31stmarch,2013

Profit After Tax Rs.83.25 billion (US $ 1,533 million)

Network 3,620 branches and 11,292 ATMs in India and has a presence in 19

countries

Subsidiary in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and

Dubai International Finance Centre and representative offices in United

Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia andIndonesia and their UK subsidiary has established branches in Belgium

and Germany.

Headquarter ICICI Bank Towers,

BandraKurla,Mumbai, India


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ICICI Bank(formerly Industrial Credit and Investment Corporation of

India).ICICI Ltd was established in 1955 by the World Bank, the

Government of India and the Indian Industry, for the promotion of

industrial development in India by giving project and corporate

finance to the industries in India. ICICI Bank has grown fromdevelopment bank to a financial conglomerate and has become

one of the largest public financial institution in India.ICICI Bank has

financed all major sectors of economy.


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Kochhars strategy to keep ICICI on growth

trends

Things have changed quit dramatically for ICICI Bank which today has aasset size of Rs.5.36 lakh crore up from Rs3.79 lakh crore in 2008-09,

when Kochhar took charge. The proportion of low-cost current

account-saving account (CASA) deposits has grown substantially from

28.7 per cent of total asset in 2008-09 to 43.3 per cent in 2012-13.

The focus on better management of risk has led to a dramatic

improvement in credit quality and credit cost or the cost of provisions

the bank makes against bad loansdeclined from 2.2 per cent of total

asset to just 0.8 per cent in financial year 2012-13.

A mixed strategy is followed, on one hand cost were being cut and high-

cost deposits were being shed. On the other , the branch network was

being expanded. Internally ,from a product centric model where

segmentation was done on the basis of deposits, home loans ,car loans

and the like, the bank moved to customer segmentation.


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For now, as the economy slow down, Kochhar hopes the bank

with its distribution network, funding profile, knowledge and

skill base, will continue growing at 2-3 per cent higher then the

industry average.

The banks substantial branch expansion in the past 24 months is

expected to result in a more favourable deposit mix going forward.

It expects the growth in advance for FY 2014 to be 2-3 per cent

above industry growth which at times looks achievable.

Recently, in a seminar on Financial Services a key driver for

economic growth, she expresses the need to bring growth and

vibrancy in the economy to make India a financial hub. She

insisted that growth and vibrancy in the domestic economy

includes stable levels of fiscal deficit and current account deficitand bringing inflation under control.

The next set of initiative would be regarding regulation , legal

environment and taxation. It is not only the existence of such

regulatory and legal environment that is important but the

consistency in policy and taxation law is important ,she said.


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Hinting at the need of swift government, Kochhar said, getting

small things like Visa or driving license should be made easier as we

in financial sector are dealing with financial regulation and tax

constraints


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Awards and Accolades

2014 Named among fortunes 50 most powerful women in business for

the fourth consecutive year.

Received the Mumbai women of the Decade.

2013 Ranked as the most powerful women in business in India for the

third consecutive year in fortunes list of 50 Most powerfulWomen in Business: The Global 50.She is among the four most

powerful women in business in the world,according to the list. Conferred the AIMA JRD TATA Corporate Leadership Award

2012


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Continued

Recipient of the 4thAsian Corporate Director Recognition Awards

2013.

Ranked as the most powerful business women in India in the

Forbes list of The Worlds 100 most powerful women 2013.

Received the Transformation Leader Award by NDTV Profit

Business Leadership Award 2012.

Featured for the third year in a row in the power list 2013 of 25

most powerful women in India by India Today.

Is the only Indian to be featured in the Dow James list of Most

Influential Female Executive in the world of the last decade Awarded the business person of the year 2012 by Business

India. She is the first woman recipient of this award in 31

years.


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2012

Topped the list of 50 Most Powerful Women in Business. by

the fortune India.

Ranked 18thin Fortunes List of 2012 Business Person of the year.

This is fortunes annual ranking of 50 global leaders who are the

best in business.

Ranked 59thin the worlds 100 most-powerful women by Forbes.

Named amongst the nine Indian Women in the Forbes inaugural

Asia Power Businesswomen list.

Ranked fifth in the list of the Most Powerful CEOs in India by

the Economic Times and first in the list of Top Women CEOs inthe country.


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Conferred with CNBC Asias India Business Leader of the year

award and CSR award.

Named the Business Person of the Year by Business India.

Named amongst the 25 most powerful professional women in

the country India today for the second year.

2011

Ranked fifth by Fortune in the international list of 50 Most

Powerful Women in Business.

Ranked 17thamong the 25 Most Powerful CEOs in Asia by

Fortune.

Ranked 43rdMost Powerful Women in the world by Forbes.

Named among the 50 most influential people in global finance

by Bloomberg markets magazine


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Named among the two best Indian CEO in an annual poll by

Finance Asia.

Ranked 10thby financial times in the Top 50 Women in WorldBusiness.

Received the Global Leadership Award from the VS-India

Business Council.

Named Most Powerful Women in Indian Business by fortuneIndia.

The first woman to be named as the Business Leader of the

Year by the Economic Times.

Featured in the Hall of Fame Most Powerful Women in Indian

Business by business today.

Conferred with the Transformational Business Leader of the

Year award by all India management association.


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Conferred with Padma Bhushan which was given away by

president in a ceremony at Rashtrapati Bhawan.


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2010

Ranked 10thin the list of Most Powerful Women in

Business by fortune.

Ranked 92ndin the list of Most Powerful Women in the

world by forbes.

Conferred with the Outstanding Woman Business Leaderof the Year "award by CNBC TV18

Conferred with the Banker of the Year Award by Financial

Express.

Featured in the list of 30 most powerful women leadersin business today for eight consecutive years from 2002 to

2010.


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Emolument

Chanda kochhar is an incredible overachiever. At a very young age, she was

appointed the M.D. of ICICI Bank, a gigantic power house with a market cap of142,230 crore. Since the day, she took charge (01/05/2009), ICICI has gone places ,

giving its shareholders a return of 158%.

While the growth was tempered in the early years to curb MPAs, it has been on a

growth trajectory in the recent past. Now, with a salary of Rs 5.12 crore , Chandakochhar has achieved the distinction of being the highest paid banker in the country.

The other top-notch bankers were not on chanda kochharsheels. Aditya Puri, the

star M.D. of HDFC Bank came within touching distance with an annual salary of Rs

5 crore.


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Shikha sharma, CEO Axis Bank took home Rs. 3.45 crore while wiz-

kid uday kotak, M.D. kotak Mahindra Bank, had to remain content

with a salary of Rs. 2.19 crore

In terms of shareholders return, Chanda Kochhars ICICI Bank came

second with a 51% YOY return while Shikha Sharmas AXIS Bank

came third with a 47% YOY return. For the fourth place, Aditya

Puris HDFC Bank was tied with a 42% YOY return.


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Conclusion

Chanda Kochharsability to manage such a huge organization and being it the

best profits ever keeping the employees highly contented is the most admiring

quality about her. We have heard that a leader is tested during critical times. It

shows her decision making power. In year 1991, when country was dwindling

under financial pressure from all corner, it was then the concept of

privatisation of bank was done.

Her abilities in the financial sector were highly appreciated in the company

which got her a post of general manager in 1994. It makes this person admired

all around the nation. The HR communication qualities of a leader can be seenin the manner she convinced the customers to use the services of privatised

bank in the era.

.


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Looking at the designation changes in Kochharscareer , it become

clear that she had to manage different team at different times and

also in quick succession. Being manager of so many companiesalone, and patting all of them at the apex in their respective fields

also shows her ability to manage parallel work functions.

Finally one can admire Chanda Kochhar for the fact that she has not

inherited success. She has gone through all the phases of struggle

before even leading a single team.

For her, many a times excelling at work meant giving up on her

personal priorities. There were so many occasions when I wasn't

around for my kids or my husband. But we learnt to work around

it.said kochhar. In many ways her children have motivated too.


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References

Wikipedia.org/wiki/chanda-kochhar

www.forbes.com/profile

www.icicibank.com www.businessnew,com

www.toi.com

www.weforum.com

Articles.economictimes.com
http://www.forbes.com/profilehttp://www.icicibank.com/http://www.businessnew%2Ccom/http://www.toi.com/http://www.weforum.com/http://www.weforum.com/http://www.toi.com/http://www.businessnew%2Ccom/http://www.icicibank.com/http://www.forbes.com/profile

Chanda Koch Har

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