On Tuesday this week Reserve Bank of India (R.B.I.) announced the appointment of Mr. Sashidhar Jagdishan as the new Managing Director and Chief Executive Officer of HDFC Bank who will succeed Mr. Aditya Puri the current Managing Director of HDFC Bank, as he is retiring from his post in October this year.
“A meeting of the Board of Directors of the Bank will be convened in due course inter alia to approve the appointment of Sashidhar Jagdishan as the Managing Director and C.E.O. of the Bank, in place of Aditya Puri , who is due to retire as Managing Director of the Bank on Oct. 26, 2020.” stated a statement made by HDFC Bank.
Mr. Jagdishan is a Chartered Accountant from the Institute of Chartered Accountants of India, and he also has a Bachelor of Science degree in physics from the University of Mumbai and a Masters degree from the University of Sheffield in Economics of Money, Banking and Finance.
He joined the HDFC bank in 1996 at the post of Manager till 1999 then he was the Financial Head from 1999 to 2008, and in 2008 was promoted to the post of Chief Financial Officer (C.F.O.), and he remained at this post till 2019, in 2019 only he was made the Group Head & Strategic Change Agent which made him the head of all the important portfolios of the bank. This promotion to “Group Head & Strategic Change Agent” was seen as a signal that he might in future succeed Aditya Puri if the Board of Directors also chooses him.
Mr. Sashidhar Jagdishan will have to face many fierce challenges after he is appointed as M.D. of the bank as he has to take forward the legacy of Mr. Puri like Jagdishan has to maintain the Gold Standards set for the bank by him and the increasing Rate of Net Profit at 19.5% earned by bank in the first quarter of F.Y. 2021 amounting to Rs.6,659 Crore also.
With Warm Regards,
CL Bureau.
