As one of the leaders mentored by K V Kamath, by 2008, he had built a sizeable retail business at ICICI Bank. In the aftermath of the global financial crisis, there were widespread defaults in small-ticket personal loans in India and bankers came across as lacking empathy in the subsequent recovery action. When Chanda Kochhar was appointed CEO, many potential leaders who were also part of the race moved to head institutions of their own — Shikha Sharma moved to Axis, Sanjoy Chatterjee to Goldman Sachs, Renuka Ramnath to Multiples Asset Management.