Former HDFC Bank CEO Aditya Puri joins Carlyle Group — will advise the global investment firm on Asia bets

• Aditya Puri has joined The Carlyle Group as a senior advisor.
• Puri, who led HDFC bank for 26 long years, will advise Carlyle on investments across Asia.
• Puri had retired from HDFC on October 26 and was succeeded by Sashidhar Jagdishan.

Former HDFC Bank CEO Aditya Puri has joined The Carlyle Group as a senior advisor. Puri, who was at the helm of the HDFC bank for 26 long years and is credited with the bank’s success, will advise Carlyle on investments across Asia.

“Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth. I am very impressed with Carlyle’s track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia. Whether this is with founder-led businesses or large conglomerates, Carlyle’s focus on building better businesses is something I have a great affinity for. It will therefore be a pleasure to act as senior advisor to the Carlyle team in support of their investing activities across Asia,” said Aditya Puri in a statement.

Puri had retired from HDFC on October 26 and was succeeded by Sashidhar Jagdishan. One of India’s highest paid CEOs, Puri, had sold his shares in HDFC – worth ₹843 crore, before his retirement.

Carlyle has also been ramping up its investments across Asia. In July, the group acquired a 25% stake in Airtel’s Data Centre business. In June, the firm had also invested fresh equity capital for a 20% stake in Piramal Pharma Limited. It was also reportedly looking to pick up a stake in Mukesh Ambani’s Reliance Retail.

Carlyle has made several bets across Asia in financial services:

As of September 2020, Carlyle’s total investment in Asian financial services companies stood at $4.9 billion.

“Mr. Puri has been repeatedly accredited as one of the world’s leading global CEOs. We are excited to have him join Carlyle as a senior advisor in Asia, and look forward to leveraging his deep expertise and relationships to source new investment opportunities and to help our portfolio companies build better businesses,” said XD Yang, Managing Director and Chairman of Carlyle Asia.

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