Mumbai: Shashidhar Jagadishan’s name has been fixed as the successor of Aditya Puri at HDFC Bank. The Reserve Bank of India has approved Jagdishan’s name for the post of Chief Executive Officer (CEO) and Managing Director of private sector HDFC Bank. Two sources confirmed this on Tuesday. Jagadishan is currently the ‘change agent’ and head of the finance department at the largest private sector bank. He joined HDFC Bank in 1996. For a long time, there was a discussion about who would be Puri’s successor in HDFC Bank.
After Jagadishan’s appointment, these discussions will come to an end. Puri is retiring on 20 October. During the last 25 years, credit goes to Puri for raising the bank from the very bottom and making it the second-largest bank in terms of assets. The Reserve Bank was given a list of some candidates on the basis of preference. Sources said that on Monday evening, the name of Jagadishan was approved by the Reserve Bank. HDFC Bank will now inform the stock exchanges about the Reserve Bank’s approval. According to media reports, the bank had shortlisted internal candidates Shasidhar Jagdishan and Kaizad Bharucha as well as Sunil Garg of the city this year as a possible successor to Puri. The bank had said that it would give three names on the basis of preference. Puri, at the last general meeting, removed the concerns of the shareholders, and said that his successor would be selected soon.
