HDFC Bank Ltd, India’s biggest private lender, has announced that Sashidhar Jagdishan will be its Managing Director & CEO for a period of three years from his date of taking charge.
He will take over the new role on October 27, 2020, under Section 35B of the Banking Regulation Act 1949.
The Reserve Bank of India (RBI) has approved the appointment of Mr. Jagdishan, HDFC Bank said in a filing with stock exchanges.
“A meeting of the Board of Directors of the Bank will be convened in due course to approve the appointment of Mr. Jagdishan. He will replace Aditya Puri, who is due to retire as Managing Director of the Bank on October 26, 2020,” the statement added.
Mr Jagdishan joined HDFC Bank in 1996 as a Manager in the Finance function. He became Business Head‐Finance in 1999 and was appointed as Chief Financial Officer in the year 2008.
“He has played a critical role in supporting the growth trajectory of the bank. He has led the finance function and played a pivotal role in aligning the organization in achieving the strategic objectives over the years.” the statement added.
He is currently the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications, Corporate Social Responsibility& the Strategic Change Agent of the Bank.
He has overall experience of 30 years. Prior to joining the bank, he was a Senior Officer in the Country Financial Control Division of Deutsche Bank, AG, Mumbai.
A Science graduate, he is a Chartered Accountant. He also holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.
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