Sashidhar Jagdishan is set to be the new Chief executive officer (CEO) of India's largest private sector lender HDFC Bank. The Reserve Bank of India (RBI) last night approved his name for the post.

Jagdishan, who is is currently an Additional Director and Head of Finance, HR at HDFC Bank will replace outgoing CEO Aditya Puri. Puri's term will end October 26 when he reaches the maximum age limit of 70 years, as per the existing rule.

Puri has been serving as the managing director and chief executive since the bank was established back in 1994. The bank’s board has already set up a committee to find a successor for Puri. CNBC-TV18 had earlier reported that the board had shortlisted three names, two internal and one external. Among the internal candidates picked by the board were Shashidhar Jagdishan and Kaizad E Bharucha, and the sole external candidate was Sunil Garg of Citi.

At the bank’s recently held Annual General Meeting, Aditya Puri had indicated, “There has been a lot of talk about the successor not being with us for a long time. Our potential successor has been with us for 25 years. My successor was always in place, at least in my mind. It is now for RBI to decide,” he said.

Here's a look at the career graph of the new CEO of the bank.

Shashidhar Jagdishan joined the bank in 1996, two years after its inception as a Manager in the Finance function. Three years later in 1999, he went on to become Business Head - Finance and later was promoted to Chief Financial Officer in the year 2008.

In August 2019, HDFC Bank’s board appointed Jagdishan ‘change agent’, where he was at the forefront of making key decisions and then in November 2019 elevated him to whole-time director.

He has played a critical role in supporting the growth trajectory of the Bank. He has led the finance function and played a pivotal role in aligning the organization in achieving the strategic objectives over the years.

He heads the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility.

Jagdishan has an overall experience of 29 years. He has completed his graduation in Science with specialization in Physics, a Chartered Accountant by profession and also holds a Master’s degree in Economics of Money, Banking & Finance.

First Published:Aug 4, 2020 11:28 AM IST