After graduating from the Indian Institute of Technology at Delhi and completing an MBA from the Indian Institute of Management - Lucknow, Rakesh joined ICICI Limited in the Planning & Treasury Department in 1996.
In the last fifteen years at ICICI, Rakesh has worked across various functions including Strategy, Treasury and Planning. He has been involved in a number of strategic assignments including ICICI's listing of ADRs on NYSE in 1999 making it the first ex-Japan Asian financial services company to list on the NYSE and ICICI Bank's listing of ADRs on NYSE in 2000 making it the first Indian commercial bank to list on NYSE. He was also involved in the successful merger of ICICI Limited and ICICI Bank in 2002 creating the largest private sector bank in India. Rakesh has been instrumental in equity capital raising exercises of ICICI Bank: the US$ 750 million equity capital raising in April 2004, the US$ 2.0 billion equity capital raising in December 2005 and the largest capital raising (US$ 5 billion) by an Indian corporate in June 2007. In his role as the head of planning and performance management, he has set up robust systems for reporting and monitoring bank-wide performance at a granular level.
Currently, Rakesh is the Deputy CFO of ICICI Bank and heads the Performance, Information and Value Management Group, (responsible for bank-wide planning & performance management, MIS, strategic assignments and analyst & investor relations), the Financial Accounting & Reporting Group, and Global Asset-Liability Management Group.