The Indian financial sector has been immensely enriched by an impressive list of talented, strong women who have blazed a trail. With women pushing forward in the banking and financial services sector, their leadership is being noted across their units with outstanding results and creative solutions to their organizations. Women form and implement strategies, drive and inspire big teams, manage technical product management, and serve as mentors and role models for all employees in their organizations, regardless of gender or role. Let’s   learn more about the women leaders transforming the finance sector in India.

Shanti Ekambaram

In India's financial sector, Shanti Ekambaram is a dedicated, passionate, and determined person. She has fought against obstacles and motivated women in finance and other professions. During her 27 years at Kotak Mahindra Bank, she ran several successful businesses. Later, she reached the position of CEO and Executive Director of Kotak Investment Banking. While she was there, she launched digital banking services and started other major projects. For a number of years, Business Today identified her as one of the 'Most Powerful Women in Indian Business,' and she was awarded the CA Woman Business Leader of 2013, as well as featured on Fortune India's Top 50 powerful women in India.

Naina Lal Kidwai

Naina Lal Kidwai, director at Rothschild & Co. India, is an Indian-certified accountant. She was the first lady from Harvard to hold a top job at an Indian international bank or investment banking company. Naina became the first Indian woman to run a foreign bank when she joined as the CEO of HSBC Bank. During her time in service, she has performed diverse roles such as heading investment banking for North India at Grindlays for a period of 12 years. Her impact on India's banking industry was quite remarkable over her eight-year stay at Morgan Stanley, helping in the setting up of JM Morgan Stanley in collaboration with JM Finance. 

Naina started her career in 1982 with ANZ Grindlays Bank Plc. Before HSBC, she served as the Vice-Chairwoman and Head of Investment Banking at Morgan Stanley India between 1994 and 2002. Before her December 2015 retirement, she served as the Chairperson of the HSBC Group of Companies in India and as a member of the HSBC Asia Pacific Board.

Naina also was a Non-Executive Director of Nestlé S.A. in Switzerland and served as the President of the Federation of Indian Chambers of Commerce & Industry (FICCI). She has been honored with a plethora of awards in India and has been listed on Fortune Magazine's and other international women's business lists. Naina's dedication to water and the environment is apparent through her work with The Shakti Sustainable Energy Foundation, the Global Commission on Economy & Climate, and as Chair of the India Sanitation Coalition and Chair of the FICCI Sustainability, Energy and Water Council.

Renu Sud Karnad

Renu Sud graduated with a bachelor's degree in law from the University of Mumbai and a master's degree in economics from the University of Delhi. She is presently a Parvin Fellow at Princeton University's Woodrow Wilson School of Public and International Affairs in the United States.

With over 40 years of experience in the Indian real estate and mortgage sectors, she has a considerable amount of expertise and a thorough understanding of the mortgage industry. She joined HDFC Ltd. in 1978 and is currently the Managing Director, having been on the Board since 2000. She has been instrumental in growing HDFC's retail distribution network and has led the company in launching several innovative and customer-centric mortgage products and services. Renu was the driver of the company's digital journey and has been a strong advocate of technology. In addition to protecting the HDFC brand, she is a central designer of the company's public face and communications strategy.

Renu has been a member of the executive team that has guided HDFC to become India's leading financial services conglomerate. In addition, she is on the boards of several group companies, such as HDFC Bank Ltd., HDFC Asset Management Company Limited, HDFC Ergo General Insurance Company Limited, and HDFC Life Insurance Company Limited, and actively participates in the strategic decision-making of these companies. She is currently a director on the boards of Bangalore International Airport Limited and GlaxoSmithKline Pharmaceuticals Limited, and has been a board member of some of the world's most respected companies.

Renu is also President of the International Union for Housing Financing (IUHF), an international association of housing financing companies, and has been a director of the Asian Real Estate Society.

 

Kalpana Morparia

Since nearly 33 years, Kalpana Morparia devoted her professional life to banking with ICICI, in which she contributed many significant ideas to the financial services of the company. Later, she was appointed as a chief executive officer for South and Southeast Asia with JP Morgan.

While working, Kalpana developed her career and contributed significantly to JP Morgan's expansion. Having been a committed professional in the finance industry for decades, she is now a CEO at JP Morgan. She is also a director at Bennet & Colman, CMC Limited, Tata Consulting and Dr. Reddy's Labs. Her career path is a source of inspiration for Indian women seeking achievement and recognition.

Also Read: 5 Women Entrepreneurs Who Flourished through Their Brands

Arundhati Bhattacharya

Arundhati Bhattacharya, the CEO of SalesForce, is a powerful leader who revolutionized the finance industry at an early stage in her career. She introduced several changes in the banking sector during her time as CEO, particularly with regard to digitization. 

Her clear goals and customer-centric approach made her the first female chairperson of the State Bank of India. 

In addition to this, she also made efforts to improve the customer service and initiated different actions to increase the global presence of the bank. She also remained a general manager in the legal department at ICICI, acting as a core contributor.