new Delhi. Top management is going to change after 26 years at HDFC Bank. The Reserve Bank of India (RBI) has approved the proposal to appoint Sasidhar Jagadishan as the new Managing Director and CEO of HDFC Bank. Sasidhar will be appointed as the new CEO of the bank for three years. Jagadishan will replace Aditya Puri, who has probably been the longest MD and CEO in a private bank.
Jagadishan's 3-year tenure will begin from the date he assumed the new position under the Banking Regulation Act 1949, he will take charge on October 27, 2020. HDFC Bank told the stock exchanges that a meeting of the board of directors of the bank would be held, approving the proposal to appoint Sasidhar Jagadishan as the new MD and CEO of the bank. He will replace Aditya Puri, who is retiring as the managing director of the bank on October 26, 2020.
Jagadishan is currently the Group Head of the Bank's Finance, Manas Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications, Corporate Social Responsibility and Strategic Change Agent. He has 30 years of experience in the banking industry.
Sasidhar Jagadishan joined the bank as a manager in the finance function in 1996. In 1999, he became Business Head-Finance and in 2008 was appointed Chief Financial Officer. He has played a major role in the development of the bank.
This post was published on August 4, 2020 2:20 pm
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