HDFC Bank on Tuesday named Sashidhar Jagdishan as its new Chief Executive Officer and Managing Director. Jagdishan will replace famed banker Aditya Puri, who is credited for transforming the bank into one of the biggest private lenders in the country. Puri would step down on October 26.
Jagdishan was one of the two front-runners for this role. Jagdishan and Kaizad Barucha were the two top internal candidates. While Barucha had the highest experience, Jagdishan was touted as the dark horse.
Sashidhar Jagdishan aka Shashi is the current Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications, Corporate Social Responsibility and Strategic Change Agent of HDFC Bank. He has seen a consistent and sharp rise in the ranks since he joined the bank in the year 1996 as a Manager in the finance department. In 1999, he was appointed Business Head of Finance. Jagdishan was then appointed as Chief Financial Officer in 2008.
With an experience of 30 years, Jagdishan has been instrumental in supporting the growth curve of the bank.
Sashidhar Jagdishan served as a Senior Officer in the Country Financial Control Division of Deutsche Bank before he joined HDFC Bank. He is a Science graduate with specialisation in Physics from University of Mumbai. He has a degree in Chartered Accountancy as well. Jagdishan has a Master's degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.
The job would be cut out for Jagdishan as he would have the crucial responsibility of steering the bank through the challenges of a post-COVID world where growth is shrinking, incomes are falling and competition is increasing.