Sashidhar Jagdishan to Replace Aditya Puri as HDFC Bank MD

HDFC said in a regulatory filing on Tuesday that RBI has approved Jagdishan’s appointment as the next MD and CEO.

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Sashidhar Jagdishan is the new MD of HDFC Bank
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Sashidhar Jagdishan will be the next MD and CEO of HDFC Bank with effect from 27 October. 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.

The bank said in a regulatory filing on Tuesday, that the Reserve Bank of India (RBI) has approved Jagdishan's appointment as the next MD and CEO.

“The Reserve Bank of India (RBI) vide its communication dated 3 August 2020, has approved the appointment of Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years wef his date of taking charge, that is, 27 October, 2020, under Section 35B of the Banking Regulation Act 1949,” it said.

Further, it said that a meeting of the Board of Directors of the bank will be convened in due course to approve the appointment of Jagdishan in place of Aditya Puri, who is due to retire as Managing Director of the bank on 26 October 2020.

Jagdishan's Credentials

Jagdishan joined HDFC Bank in the year 1996 as a Manager in the Finance function and became business head, Finance in 1999. He 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 filing said.

He 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.

He completed his graduation in Science with specialisation in Physics, and 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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