HDFC Bank appoints Kaizad Bharucha as Deputy MD, Bhavesh Zaveri as Executive Director

HDFC Bank has appointed Kaizad Bharucha as the Deputy Managing Director and Bhavesh Zaveri as the Executive Director of the bank for a period of 3 years, effective from April 19. 

The board of HDFC Bank had, on November 24, 2022, recommended the names of Bharucha and Zaveri to the Reserve Bank of India (RBI) for appointment to the board.   

Kaizad Bharucha is a career banker with experience of over 35 years. He has been with the bank since 1995. In his role as Executive Director, Bharucha was responsible for wholesale banking covering areas of corporate banking, PSUs, capital and commodities markets, financial institutions, custody, mutual funds, global capability centre and financial sponsors coverage. He had previously handled corporate banking, emerging corporates group, business banking, healthcare finance, agri lending, tractor financing, commerical vehicle finance etc. 

Bharucha has extensive experience in risk management, credit management, and banking and business management. 

Prior to HDFC Bank, he worked in the SBI Commercial and International Bank in various areas.

Bhavesh Zaveri was the Group Head of Operations, Cash Management & ATM Product in his previous role and is responsible for business and operations across the country. Zaveri has an overall experience of 36 years and had headed operations, cash management and technology functions at the bank. 

Zaveri joined HDFC Bank in 1998, and became the business head of wholesale banking operations in 2000, and the group head of operations in 2009. He was then handed the additional responsibilities of Information Technology function in 2015.

He had also contributed to the digital transformation of the bank. Zaveri participated in RBI’s Internal Payments Council Meet and was part of the umbrella organisation for Payments Committee of 2004 that led to the formation of National Payment Corporation of India (NPCI). 

Zaveri, who has a Master’s in Commerce from Mumbai University and is a Certified Associate of the Indian Institute of Bankers, worked for Oman International Bank and Barclays Bank before he joined HDFC Bank. 

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