HDFC Bank may lead private lenders into a perfect succession storm

Public concerns

However, public sector bankers typically reach the managing director role in their mid-to-late 50s, often after an executive director stint, leaving a shorter runway at the top, said Agrawal of Accord India. The central government and the Financial Services Institutions Bureau, which shortlists candidates for leadership roles in public sector banks, also control appointments, leaving individual bank boards with limited say over choosing or retaining CEOs, while successors are drawn from the broader public sector pool, she added.