2 days ago
Kaizad Bharucha Emerges as HDFC Bank CEO Frontrunner
Kaizad Bharucha is a senior leader at HDFC Bank.
He became the bank’s deputy managing director in April 2023.
He has worked at the bank since 1995.
He has held many jobs, including leading corporate banking, mortgages and other financial businesses.
He also oversees social responsibility and environmental initiatives.
Bharucha is seen as a strong candidate to become the bank’s next CEO.
The current CEO, Sashidhar Jagdishan, plans to leave when his scheduled retirement arrives on 26 October.
HDFC Bank is also looking at candidates from outside the bank because of Reserve Bank of India rules.
Kaizad Bharucha has served as HDFC Bank’s deputy managing director since April 2023.
He joined HDFC Bank in 1995 and became an executive board member in 2014.
Bharucha oversees corporate banking, business banking, rural banking, mortgages, CSR and ESG functions, among others.
He is considered the leading internal candidate to succeed Managing Director and CEO Sashidhar Jagdishan.
HDFC Bank is also considering external candidates because Reserve Bank of India rules require multiple names to be submitted.
- Who
- Kaizad Bharucha, HDFC Bank, Sashidhar Jagdishan and the Reserve Bank of India.
- What
- HDFC Bank is considering a successor to Managing Director and CEO Sashidhar Jagdishan, with deputy managing director Kaizad Bharucha viewed as the frontrunner.
- Where
- At HDFC Bank in India.
- When
- Bharucha became deputy managing director on 19 April 2023; Jagdishan is scheduled to retire on 26 October.
- Why
- Jagdishan has not sought reappointment, prompting HDFC Bank to begin selecting his successor in line with Reserve Bank of India requirements.
Key facts
- Current role
- Deputy Managing Director of HDFC Bank
- Appointed deputy managing director
- 19 April 2023
- HDFC Bank tenure
- Since 1995
- Executive board role
- Became a board member in 2014
- Experience
- Nearly four decades in banking
- CEO succession
- Considered the leading internal candidate to succeed Sashidhar Jagdishan
- Selection process
- HDFC Bank is also searching for an external candidate because multiple names must be submitted under Reserve Bank of India rules
Quotes
HDFC Bank website
HDFC Bank’s website describing Bharucha’s executive responsibilities.
“As the Bank’s Executive Director, Mr Bharucha managed diverse portfolios, including Corporate Banking, PSUs, Capital & Commodities Markets, Financial Institutions, Emerging Corporates Group, Business Banking, Healthcare Finance, Agri-Lending, Tractor Financing, Commercial Vehicle Finance, Commercial Equipment Finance, Infrastructure Finance, Department for Special Operations and Inclusive Banking Initiatives”
livemint.com
“The Board decided to fast-track the process for selection and appointment of his successor well within time”
livemint.com
Sources
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