In a strategic leadership transition, ICICI Bank announced that Anish Madhavan, a seasoned senior management professional within the bank, stepped into the role of Group Chief Compliance Officer (GCCO), effective August 29, 2025. This followed the early retirement of the incumbent, Subir Saha, who stepped down at close of business on August 28, 2025. The changes were disseminated through regulatory filings, including a formal SEBI disclosure and an SEC Form 6-K submission.
The choice of Anish Madhavan underscored ICICI Bank’s preference for internal succession, ensuring seamless continuity in its compliance leadership. With over 29 years of experience in banking and finance, Madhavan spent 24 years within the ICICI Group, serving in pivotal roles such as:
- Head of Cards, Payment & Merchant Ecosystem,
- Group Chief Internal Auditor & Head – Financial Crime Prevention, and
- Head – Compliance (India operations, 2015–2021).
His progression reflected a versatile understanding of the bank’s compliance, audit, risk management and business operations an ideal blend for navigating the increasingly complex regulatory and governance landscape.
In today’s banking sector, the role of the GCCO has become just as critical as that of the CEO or CFO. With heightened global regulations and intensifying scrutiny of Indian banks, ICICI’s decision to elevate a leader of Anish’s stature signalled its unwavering commitment to transparency, regulatory excellence and robust governance.
The alignment between his internal audit and financial crime prevention experience and modern compliance demands equipped the bank to proactively manage evolving risks, especially in areas like anti-money laundering (AML), cybersecurity and digital payments.
