InvestorQ : Can you tell me why Sasidharan Jagdishan was preferred as the CEO of HDFC Bank to take over from Aditya Puri? Will it impact performance of HDFC Bank?
Rashi Mehra made post

Can you tell me why Sasidharan Jagdishan was preferred as the CEO of HDFC Bank to take over from Aditya Puri? Will it impact performance of HDFC Bank?

Answer
user profile image
sarah Leo answered.
2 months ago


On 04 August, RBI approved the appointment of Sashidhar Jagdishan as the new CEO of HDFC Bank to replace Aditya Puri, who has led the bank since its inception in 1994. Jagdishan will take over from Puri in October. Jagdishan was one of the two front runners for the top job along with Kaizad Bharucha. Jagdishan had joined the bank in 1996.

Jagdishan heads the finance, human resources, and other departments and he is also a qualified chartered accountant. Succession at HDFC Bank after Puri remained a big issue for the bank and its shareholders and that has now been laid to rest. Of course, Jagdishan will have to task of building the top team after many at the senior level left the organization in the last few months.

How it will impact performance of HDFC Bank is hard to say but Puri may be big shoes to fill. But HDFC Bank has put fantastic systems and processes in place and the institution is surely bigger than the people who run the bank. The bigger challenge would be for Jagdishan to handle recent issues like in the car loans division which has dented the image. Of course, post moratorium growth will be another challenge.