Vishakha Mulye appointed as ICICI Bank ED

Vishakha Mulye appointed as ICICI Bank ED

Vishakha Mulye is the new executive director at ICICI Bank. She will continue to hold her existing position of managing director and chief executive officer of ICICI Venture for the time being until a successor has been found. ICICI Bank in a statement said she would be appointed subject to necessary approvals.

A long-time employee with ICICI Bank, she was group chief financial officer (CFO) at ICICI Bank from 2005 to 2007, before moving as executive director to ICICI Lombard, the group's general insurance venture. In April 2009, she was appointed MD & CEO of ICICI Venture Funds Management Company.

Mulye joined the ICICI Group in 1993 and headed the team that planned and executed the merger of ICICI and ICICI Bank in 2002. From 2002 to 2005, she was responsible for the bank's structured finance and global markets businesses, and its financial institutions relationships. She is credited with being a key driver and enabler of the debt securitisation market in India, and with building the bank's global markets business.

Under her leadership as CFO, the bank raised close to $7 billion in equity capital and several billion dollars of debt financing. She spearheaded fund-raising deals like ICICI Bank's $5-billion equity offering in 2007, and the first hybrid capital issuance by an Indian bank in 2006.