FedEx vs ICICI Bank: Founders, CEOs and History
FedEx was founded in 1971 by Frederick W. Smith and is led by Raj Subramaniam. ICICI Bank was founded in 1994 by Industrial Credit and Investment Corporation of India and is led by Sandeep Bakhshi.
Company facts
FedEx
- Founded
- 1971
- Headquarters
- Memphis, Tennessee
- Current CEO
- Raj Subramaniam
- Employees
- 529,000
ICICI Bank
- Founded
- 1994
- Headquarters
- Mumbai, Maharashtra, India
- Current CEO
- Sandeep Bakhshi
- Employees
- 124,029
Founders
FedEx
Frederick W. Smith
Frederick W. Smith founded Federal Express in 1971 and ran it for more than 50 years, building the hub-and-spoke overnight delivery model now used across the express industry.
ICICI Bank
Industrial Credit and Investment Corporation of India
The Industrial Credit and Investment Corporation of India (ICICI) was established in 1955 at the initiative of the World Bank, the Government of India, and representatives of Indian industry.
CEOs and their tenures
FedEx
- Frederick W. Smith1971–2025
Founder, Chief Executive Officer (1971-2022) and Executive Chairman (2022-2025)
He invented the modern overnight express delivery industry, building FedEx from a Yale University term paper into a massive global logistics empire before retiring as CEO in 2022.
Source - Raj Subramaniam2022–present
President and Chief Executive Officer
Under Subramaniam, FedEx revenue rose from $87.693 billion in FY2024 to $94.720 billion in FY2026, the company merged its operating companies into Federal Express, rolled out Network 2.0, and completed the June 2026 FedEx Freight spin-off.
Source - R. Brad Martin2025–present
Executive Chairman and Chairman of the Board
As Chairman of the Board, he oversees the ongoing multi-billion dollar cost-cutting initiatives designed to close the operating margin gap with rival UPS.
Source
ICICI Bank
- K V Kamath1996–2009
CEO & Managing Director
Kamath built ICICI's reputation for technology-led banking, early ATMs, internet banking, and retail credit, and oversaw the 2002 reverse merger that created the modern bank.
Source - Chanda Kochhar2009–2018
CEO & Managing Director
Kochhar expanded ICICI Bank's retail franchise and brand reach, but her tenure ended amid the Videocon controversy and a sharp rise in bad corporate loans.
Source - Sandeep Bakhshi2018–present
Managing Director & CEO
Bakhshi is credited with restoring investor and regulator trust after 2018 and turning ICICI Bank into a lower-risk, steadily compounding lender, with net NPAs around 0.3% in 2026.
Source
Timeline: FedEx and ICICI Bank side by side
1955ICICI Bank
ICICI Founded as Development-Finance Institution
ICICI was formed to provide medium- and long-term project finance to Indian businesses.
1971FedEx
Federal Express Founded
Frederick W. Smith incorporates Federal Express Corporation, planning to build an overnight air-delivery network around a central Memphis hub.
1973FedEx
Commercial Operations Begin
Federal Express begins commercial service from Memphis using a hub-and-spoke overnight model, surviving early near-bankruptcy on fuel costs.
1978FedEx
FedEx Goes Public
The company completes its initial public offering to finance network expansion.
1994ICICI Bank
ICICI Bank Incorporated
ICICI Bank was incorporated as part of the ICICI group during India's post-liberalization banking opening. The move gave ICICI a deposit-taking commercial bank able to serve retail, corporate, and transaction-banking customers.
1998FedEx
Caliber System Acquisition
FedEx acquires Caliber System for about $2.4 billion, adding the assets that become FedEx Ground and FedEx Freight.
1999ICICI Bank
NYSE Listing Milestone
ICICI became the first Indian company and the first bank or financial institution from non-Japan Asia to list on the New York Stock Exchange. The listing expanded global visibility and imposed a higher disclosure profile on the group.
2001ICICI Bank
Bank of Madura Amalgamation
Bank of Madura was amalgamated with ICICI Bank with effect from March 10, 2001. The deal added branches, customers, and a southern India presence that helped the young bank build distribution faster than organic expansion alone.
2002ICICI Bank
Reverse Merger Created Universal Bank
ICICI, ICICI Personal Financial Services, and ICICI Capital Services merged into ICICI Bank.
2004FedEx
Acquired Kinko's
FedEx acquired Kinko's for $2.4 billion. FedEx bought Kinko's for about $2.4 billion and rebranded the stores as FedEx Office.
2010ICICI Bank
Bank of Rajasthan Merger
The Bank of Rajasthan merger strengthened ICICI Bank's branch network, especially in northern and western India. The transaction mattered because local branches and deposits still supported private-bank scale even as digital channels were growing.
2016FedEx
TNT Express Acquisition
FedEx acquires TNT Express for about $4.4 billion to expand its European and international express network.
2018ICICI Bank
Sandeep Bakhshi Became MD and CEO
Sandeep Bakhshi became Managing Director and CEO in October 2018 after Chanda Kochhar requested early retirement. His tenure has been associated with a sharper focus on risk controls, asset quality, governance, and steady retail-led growth.
2022FedEx
Raj Subramaniam Becomes CEO
Raj Subramaniam succeeds founder Frederick W. Smith as CEO, becoming only the second CEO in FedEx history, and launches the DRIVE and Network 2.0 transformation programs.
2025FedEx
Founder Fred Smith Dies
Frederick W. Smith dies on June 21, 2025. Longtime director R. Brad Martin becomes chairman and later executive chairman.
2025ICICI Bank
FY2025 Balance Sheet Scale
The FY2025 integrated report listed Rs 16,103.48B in deposits, Rs 13,417.66B in loans and advances, Rs 21,182.40B in standalone total assets, and a 16.55% capital adequacy ratio.
2025ICICI Bank
FY2025 Profitability
ICICI Bank reported Rs 472.27B in standalone profit after tax and Rs 510.29B in consolidated profit after tax for FY2025. Profitability matters because the bank has to fund technology, compliance, provisions, and growth while keeping capital strong.
2025ICICI Bank
IMobile and Card Scale
IMobile processed 558M transactions worth Rs 11,238B in FY2025, and the bank had close to 18M active credit cards at March 31, 2025.
2026FedEx
FedEx Freight Spin-Off Completed
On June 1, 2026 FedEx completes the spin-off of FedEx Freight Holding Company, which begins trading on the NYSE as FDXF.
2026FedEx
FY2026 Revenue Reaches $94.7B
FedEx reports $94.720 billion in FY2026 revenue, $4.433 billion in net income, and capex of 4.0% of revenue, a record low ratio.
2026ICICI Bank
Q1 FY2027 Profit Up 15.9%
Standalone profit rose 15.9% to Rs 14,805 crore for April-June 2026, with net interest income up 12.7% and net NPAs at 0.35%.
2026ICICI Bank
Bakhshi Reappointed to 2028
The RBI approved Sandeep Bakhshi's reappointment as MD and CEO for two years from October 4, 2026.
2026ICICI Bank
FY2026 Profit Crosses Rs 50,000 Crore
Standalone net profit rose 6.2% to Rs 50,146.6 crore in FY2026, with a 4.32% net interest margin and 15.8% loan growth.
Acquisitions
FedEx
- ShopRunner2020Undisclosed
- TNT Express2016$4.4B
- Kinko's2004$2.4B
- Parcel Direct2004Undisclosed
- American Freightways2001Undisclosed
- Caliber System1998$2.4B
ICICI Bank
- Bank of Rajasthan2010Undisclosed
- The Sangli Bank2007Undisclosed
- Bank of Madura2001Undisclosed
- Anagram Finance1998Undisclosed
- ITC Classic Finance1997Undisclosed
Questions about FedEx vs ICICI Bank
Who is the CEO of FedEx Corporation and ICICI Bank Limited?
FedEx Corporation is led by Raj Subramaniam and ICICI Bank Limited is led by Sandeep Bakhshi. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was FedEx Corporation founded vs ICICI Bank Limited?
FedEx Corporation was founded in 1971 — 23 years before ICICI Bank Limited, which was founded in 1994. FedEx Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger ICICI Bank Limited.
How many employees does FedEx Corporation have compared to ICICI Bank Limited?
FedEx Corporation employs approximately 529,000 people, while ICICI Bank Limited employs approximately 124,029. FedEx Corporation has the larger workforce at 529,000 employees, compared to ICICI Bank Limited's 124,029. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are FedEx Corporation and ICICI Bank Limited headquartered?
FedEx Corporation is headquartered in United States and ICICI Bank Limited is headquartered in India. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded FedEx Corporation and ICICI Bank Limited?
FedEx Corporation was founded by Frederick W. Smith. ICICI Bank Limited was founded by Industrial Credit and Investment Corporation of India.
Which company has a longer operating history — FedEx Corporation or ICICI Bank Limited?
FedEx Corporation has been operating for approximately 55 years, making it the more established of the two companies. ICICI Bank Limited has been in operation for around 32 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the FedEx vs ICICI Bank overview