HDFC Bank board finalises MD Aditya Puri’s successor, RBI nod awaited

HDFC Bank

Private lender HDFC Bank has finalised three candidates, in order of preference, for succeeding Chief Executive Officer and Managing Director Aditya Puri. However, the names are not yet revealed by the bank. The lender said that the matter, as of now, will only be communicated to the RBI.

HDFC Bank

Puri was appointed as the head of the lender and had been associated with the bank for more than 25 years. For finding his successor, the HDFC Bank board had appointed a search committee and also engaged external headhunters to help it zero in on a candidate.

“The Board of Directors of the Bank has today (Saturday) finalised the names of three candidates, in the order of preference, for the position of the managing director and chief executive officer (MD & CEO) of the bank,” the bank informed.

Several media reports have mentioned the names of Sashidhar Jagdishan, Kaizad Bharucha and Sunil Garg as the ones who had made the final screening.

Jagdishan and Bharucha are internal candidates, while Garg is working with American banking major Citigroup. While Garg is the chief executive of Citi Commercial Bank, Jagdishan is an additional director who leads the finance, human resources, legal and secretarial functions at HDFC Bank.

Bharucha is an executive director responsible for wholesale banking.

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