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Second innings! Aditya Puri joins Carlyle Group as senior adviser in Asia

Puri will help Carlyle identify evolving market landscape and new opportunities and will also mentor Carlyle's investment professionals; in Asia, major Carlyle investments include stakes in SBI Cards and Piramal Pharma and Mcdonald's China

Former HDFC Bank chief executive Aditya Puri Former HDFC Bank chief executive Aditya Puri

Global investment firm Carlyle has appointed recently retired HDFC Bank chief executive Aditya Puri as senior adviser in Asia. The 70-year-old banking industry veteran had retired from HDFC Bank last week, while handing over the reins of India's biggest private bank to Sashidhar Jagdishan, its new CEO and MD.  

Puri, who joined as the first employee in the HDFC Bank in 1994, has been instrumental in building the bank from scratch and turning it into the most valued lender in India. He was the prime force behind HDFC Bank achieving new heights. 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.

Also read: Time to say goodbye! Huge wall hanging of Aditya Puri at HDFC Bank HQ in Mumbai

Carlyle in a statement has said Puri will help the company identify the evolving market landscape and new opportunities. He will also mentor Carlyle's investment professionals.  "Puri will provide guidance on the evolving market landscape and new investment opportunities, while also advising Carlyle's investment professionals and portfolio management teams on building differentiated high quality businesses," Carlyle said in a statement.

With $230 billion of assets under management as of September 30, 2020, Carlyle deploys private capital across four business segments -- Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. In Asia, major Carlyle investments include stakes in SBI Cards and Piramal Pharma and Mcdonald's China.

Puri in a statement has said he's very impressed with Carlyle's track record in key industry sectors. "Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth. I am very impressed with Carlyle's track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia," Puri said.

Carlyle Asia Chairman and MD XD Yang said he was looking forward to leveraging Puri's deep expertise and relationships to source new investment opportunities and to help portfolio companies build better businesses.

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

It was widely expected that Puri will continue contributing to the industry by taking up advisory responsibilities in global corporations. Puri had 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.  

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 said. 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.

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