Sashidhar Jagdishan takes charge as HDFC Bank's new MD and CEO as Managing Director for 26 years Aditya Puri retired at the end of business hours on Monday.
"Sashidhar Jagdishan (DIN: 08614396) shall take charge as the Managing Director and Chief Executive Officer of the Bank with effect from October 27, 2020. Jagdishan has been a part of the Bank since 1996 and played a critical role in supporting the growth trajectory of the Bank. With an overall experience of over 30 years," the bank said in a regulatory filing.
Jagdishan has extensive knowledge and experience in the fields of banking, finance, and economics, it added.
Puri has been the MD of the bank since its inception in 1994.
The filing said, "Puri leaves behind a legacy of strong cultural values, prudent risk management, sustainable growth and contribution to nation-building through 'Parivartan', the Bank's social initiatives brand which has contributed to improving the lives and livelihood of millions of Indians."
ICICI Bank on Monday, in an unusual move, thanked larger rival HDFC Bank's chief executive Aditya Puri for being an inspiration and his contribution to the Indian banking industry on the day of his retirement.
"ICICI Bank thanks you, Mr Aditya Puri, for your contribution to the Indian banking industry," the bank tweeted from its official handle.
"Throughout your illustrious career spanning decades, you have been an inspiration to many. We wish you the very best for your future endeavours," the bank tweeted.
In August, the bank had announced the name of Jagdishan as the successor to Puri.
Jagdishan joined HDFC Bank in 1996 as a manager in the finance department and has played a critical role in its growth ever since.
In 1999, he became Business head - Finance and in 2008, the Chief Financial Officer of the bank. In 2019, he was appointed the 'Change Agent of the Bank' and given additional responsibilities of Legal and Secretarial, Human Resource, Corporate Communication, Infrastructure & Administration, and CSR.
Jagdishan has an overall experience of 30 years, 24 of which he's spent in HDFC Bank. Prior to that, he had a 3-year stint with Deutsche Bank, AG, Mumbai.
He is a Science graduate (Physics) from Mumbai University, and a qualified Chartered Accountant. He also holds a Master's degree in Economics of Money, Banking and Finance from the University of Sheffield, UK.