HDFC Bank announces leadership rejig under new CEO Sashi Jagdishan
HDFC Bank has announced major organizational changes under the new chief executive officer, Sashidhar Jagdishan, which include the realignment of business under three key verticals. These are business verticals, delivery channels, and technology/digital, the bank said in a press release.
Jagdishan took over HDFC Bank’s leadership from former CEO Aditya Puri in October last year.
The Bank has four broad Delivery Channels; Branch Banking, Tele-service/sales (including Virtual Relationship Manager channel), Sales Channels aligned with the business verticals and Digital Marketing. These channels cover the length and breadth of the country including semi-urban and rural locations. The Bank will continue to invest in all these channels as part of the effort to enhance customer experience.
All the businesses and delivery channels will be backed by Technology & Digital as the core backbone. The Bank has already outlined its Technology transformation agenda and it will synergise and integrate its technology / Digital functions and invest aggressively to both Run and Build the Bank.
“We are creating engines of growth with top tier talent backed by technology and digital transformation to capitalise on opportunities that will accrue in the coming time,” said Mr Sashi Jagdishan, MD, HDFC Bank. “They are in our mind Future – Ready teams. I am sure this structure will create the necessary strategic and execution agility that we need to serve our customers across India & Bharat, Retail, Commercial (MSME) and Corporate segments.”
Mr Kaizad Bharucha, Executive Director, will continue to drive the Wholesale Bank including Corporate Banking Group, Capital and Commodities Markets group and Financial Institutions.
Mr Rahul Shyam Shukla, Group Head, will now be responsible to drive the Commercial Banking (MSME) and rural vertical, a big future growth engine for both India and the Bank.
Ms Smita Bhagat, Group Head – Government and Institutional Business (GIB) and Start-ups will continue to drive the Govt / Institutional Banking. She will also drive the expansion of our rural presence leveraging our partnership with CSC and also the start-up sector.
Mr Arvind Kapil, Group Head – Retail Assets and SLI, will continue to drive the Retail Assets Portfolio. The growth potential, we believe, is immense in retail assets in the context of credit under penetration in the country.
Mr Rakesh Singh, Group Head – Investment Banking and Private Banking will also be responsible for Marketing, Retail Liability Products and Managed Programmes.
Mr Ravi Santhanam, CMO, will now be also responsible for driving Digital Marketing as a stand-alone delivery channel. He will also be additionally responsible for the Retail Liability Products and Managed Programmes.
Mr Sampath Kumar, Group Head – NRI will now be in charge of all tele-service relationships, including VRM delivery channel of the Bank. The mandate is to combine the power of human touch and digital to deliver a differentiated customer experience.
Mr Arvind Vohra, Group Head – Retail Branch Banking, Retail Trade & Forex will continue to drive the efforts to expand the Bank’s reach across India through branch banking.
Mr Parag Rao, Group Head – Payments Business, will now drive the technology transformation and digital agenda. He will continue to be responsible for the Payments vertical. Mr Ramesh Lakshminarayanan, Chief Information Officer and Mr Anjani Rathor, Chief Digital Officer will report to Parag.
Mr. Ashish Parthasarathy- Group Head, Treasury and GIB would also provide the leadership for the tele-service / sales / relationship channel.
Mr Bhavesh Zaveri, Group Head – Operations, will continue to handle the entire operations of the Bank. He will also be additionally responsible for the entire ATM channel operations across the country.
The role of Credit, Risk, Control, and enabling functions continue to be critical as we scale up further in size and reach. The current leadership would continue in these roles and support in the transformation journey to realize the vision of Project Future Ready.