Sashidhar Jagdishan Set To Be New HDFC Bank CEO; Aditya Puri’s Term Ends In October

Mumbai: Sashidhar Jagdishan is all set to be the new chief executive officer of HDFC Bank Ltd, India’s largest private lender. The RBI has approved Jagdishan’s candidature, who will be replacing Aditya Puri, for a three-year term. Puri has led the bank since its inception.

A meeting of the board of directors of the bank will be convened in due course to approve the appointment of Sashidhar Jagdishan as the managing director and CEO of the Bank. Aditya Puri is due to retire as the MD of the Bank on October 26, said an HDFC bank statement.

Jagdishan was picked from a list of three potential chief executives suggested by the board. Jagdishan was among two internal candidates suggested for the post. The other internal candidate was Kaizad Bharucha, who manages the private sector lender’s wholesale banking business. The third name suggested was Sunil Garg, who heads Citi Commercial Bank.

while maintaining a low profile as contrasting to a more boisterous Aditya Puri, Jagdishan has consistently kept rising in the ranks. He joins at a time when the bank has found concerns in certain loaning divisions regarding ‘personal misconduct’.

The bank has also recently seen three senior-level exits — Ashok Khanna (group head of secured vehicle loans); Abhay Aima (group head of private banking); Munish Mittal (chief information officer).