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Tuesday, September 22, 2020

RBI clears Sashidhar Jagdishan as HDFC Bank CEO and MD

Sashidhar Jagdishan will be appointed for a period of three years starting from October 27, HDFC Bank said in a BSE filing.

By: ENS Economic Bureau | New Delhi | Updated: August 4, 2020 12:43:10 pm
Sashidhar Jagdishan (Sashi) joined HDFC Bank in the year 1996 as a Manager in the Finance function. (Image source: HDFC Bank website)

The Reserve Bank of India has approved the appointment of Sashidhar Jagdishan as Managing Director and CEO of HDFC Bank for a period of three years from October 27, 2020, when he will take the charge from the outgoing MD Aditya Puri.

Informing the stock exchanges about the RBI’s August 3 communication, HDFC Bank said, “A meeting of the Board of Directors of the Bank will be convened in due course inter alia to approve the appointment of Sashidhar Jagdishan as the Managing Director and CEO of the Bank, in place of Puri, who is due to retire as Managing Director of the Bank on October 26, 2020.”

Along with Jagdishan, the bank had submitted the names of Kaizad Bharucha (ED at HDFC Bank) and Sunil Garg, global CEO of Citi Commercial Bank for RBI’s consideration.

Jagdishan joined the Bank in 1996 as a manager in the finance function and became business head‐ finance in 1999. He was appointed as Chief Financial Officer in 2008. He led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years.

Sashidhar Jagdishan 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. Sashi has an overall experience of 30 years.

Prior to joining HDFC Bank, Sashi was a senior officer in the country financial control division of Deutsche Bank, AG, Mumbai. A chartered accountant Jagdishan also holds a master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.

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