HDFC shares rise as bank names V. N. Srivatsan as new Chief Compliance Officer

HDFC Bank Ltd shares rose in Thursday's trade after the private lender approved the appointment of Mr. V. N. Srivatsan as the Chief Compliance Officer of the Bank, as per the provisions of the Reserve Bank of India (RBI) Directions, 2026, for a period of three years, with effect from his date of joining.

"He is proposed to join on January 4, 2027. During the intervening period, Mr. Venkateswaran L, currently Compliance Head - Credit, Asset Product & Regulatory Reporting, shall hold the responsibility as the Chief Compliance Officer," the company said.

Meanwhile, there was also a change in the bank's senior management, with Group Head - Legal & Group General Counsel Sudhir Kumar Jha superannuating and Jigar Shah set to take over as General Counsel.

Jha retired from HDFC Bank effective September 30, 2026, following 22 years of association with the HDFC Group. With his superannuation, he has also ceased to be a senior management personnel of the bank.

HDFC Bank shares rose 1.24% from the previous close of Rs 709.70 to hit a high of Rs 718.50 in Thursday's trade. The stock opened at Rs 707.10 and touched a low of Rs 707.10.

The bank said Jha's tenure included dedicated service to the institution and noted his contribution to strengthening HDFC Bank's legal and compliance framework, as well as managing legal risks across the bank.

Jigar Shah, who was serving as General Counsel - Designate, will assume the position of General Counsel of HDFC Bank from October 1, 2026. The appointment follows an earlier intimation dated June 29, 2026, regarding the transition.

The leadership change marks a transition in HDFC Bank's legal function, with Shah taking over the General Counsel role following Jha's retirement.