Aditya Puri's replacement as HDFC Bank CEO Sasidhar Jagdishan is an insider since 1996

IANS

  • Jagdishan holds a bachelor’s degree in Science with specialization in Physics. He is also a Chartered Accountant and has a Master’s degree in Economics of Money, Banking and Finance from the University of Sheffield, UK.
  • Jagdishan is currently the Additional Director and Head of Finance, HR at HDFC Bank.
  • He started his career with HDFC in 1996 as a Manager in the Finance function and brings 29 years of experience on the table. He has worked as a

HDFC, India’s largest private lender, today appointed Sashidhar Jagdishan as its new chief executive officer, reported CNBC. According to the media report, HDFC received the approval letter from Reserve Bank of India last night. He will replace Aditya Puri who headed the bank for 26 years. And Jagdishan has been alongside for pretty much the entire time.

“We wish to inform you that the Reserve Bank of India ('RBI') vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. his date of taking charge, i.e. October 27, 2020, under Section 35B of the Banking Regulation Act 1949,” HDFC said in a BSE statement.

“RBI sent us the letter with Sashidhar Jagdishan’s name approved for the CEO post late last night,” confirmed an insider to CNBC-TV18

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The shares of HDFC Bank surged 5% after the news about Jagdishan broke. He will start his three-year tenure from October 27.

Business Insider India


Jagdishan is currently the Additional Director and Head of Finance, HR at HDFC Bank. He started his career with HDFC in 1996 as a Manager in the Finance function and brings 29 years of experience on the table.

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Jagdishan holds a bachelor’s degree in Science with specialization in Physics. He is also a Chartered Accountant and has a Master’s degree in Economics of Money, Banking and Finance from the University of Sheffield, UK. He has worked as a Manager in the Finance Function and then as the Business Head - Finance for the bank. He later became the Chief Financial Officer in 2008.

He was reportedly among the top three choices of the bank. The other two were Kaizad Bharucha and Sunil Garg.

“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 bank writes in his profile section.

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