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Will Aditya Puri leave banking industry post retirement from HDFC Bank?

Aditya Puri, who joined as the first employee in the HDFC Bank, has been instrumental in building the bank from scratch and turning it into the most valued lender in India

twitter-logoNevin John | August 4, 2020 | Updated 16:15 IST
Will Aditya Puri leave banking industry post retirement from HDFC Bank?
Former HDFC Bank CEO, Aditya Puri

The Reserve Bank of India (RBI) approved the appointment of Sashidhar Jagdishan as the next chief executive officer of HDFC Bank as banking stalwart Aditya Puri retires in October after a 26-year stint at the largest private sector bank. But many people from the corporate world ask the question -- Will Puri continue in banking after the retirement?

Most executives believe that Puri will continue contributing to the banking by taking up advisory responsibilities in global corporations. It may not be of the same volume as in HDFC Bank, they add.

However, Puri told Business Today in March that he will consider taking up board position in international or large Indian firms after retiring from the HDFC Bank. He will also consider accepting top jobs in private equity firms.

Puri, who joined as the first employee in the HDFC Bank, has been instrumental in building the bank from scratch and turning it into the most valued lender in India. HDFC Bank is now valued at Rs 5.5 lakh crore in the market -- third most valued firm in India after Reliance Industries and TCS.

According to Puri, he has "enjoyable plans" for his retirement life. "I will play my favourite game, golf. Trekking is my other passion. I prefer to walk in the woods," he told. He loves music also. "I will continue with hobbies like farming and agriculture and grow fruits and vegetables at the farm in Lonavala," he added during the interview.

Puri is known for skillfully optimising time. He prefers to be the first person to reach office. While going out for a meeting, he ensures that he meets as many people as possible, ranging from executives in client companies to people on the street. He does not use a mobile phone or wear a watch. When his colleagues and juniors are still working in the office at 5.30 pm, Puri wraps up for the day. He prefers to stay with the family in the evenings, rather than partying.

Puri sold roughly 7.42 million HDFC Bank shares (0.13 percent stake) worth Rs 842.87 crore between July 21 and 23 as he prepares for retirement. He held 7.8 million shares or roughly 0.14 per cent stake in June. Post the sales, his holding reduced to 3.76 lakh shares or 0.01 per cent.

Also read: Sashidhar Jagdishan appointed new HDFC Bank CEO; RBI gives go ahead

Also read: 5 big challenges for new HDFC Bank CEO Sashidhar Jagdishan

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