After 26 years, there will be a change of guard at HDFC bank — the second largest private sector lender. The Reserve Bank of India (RBI) has approved the appointment of Sashidhar Jagdishan as Managing Director and CEO of the bank for a period of three years.

Jagdishan takes over from Aditya Puri, who had probably one of the longest stints as MD and CEO in the private banking space and even in India Inc as a professional CEO at the helm for 26 years.

Jagdishan's tenure is for three years with effect from his date of taking charge, October 27, 2020, under Section 35B of the Banking Regulation Act 1949.

HDFC bank informed the stock exchanges that a meeting of the Board of Directors of the bank will be convened in due course to approve the appointment of Sashidhar Jagdishan as the Managing Director & CEO of the bank, in place of Aditya Puri, who is due to retire as Managing Director of the Bank on October 26, 2020.

Jagdishan is currently the Group Head of Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications, Corporate Social Responsibility & the Strategic Change Agent of the Bank. Sashi has an overall experience of 30 years.

Jagdishan or Sashi as he is popularly known, joined the bank in the year 1996 as a manager in the finance function. He became business head- finance in 1999 and was appointed as chief financial officer in the year 2008. 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. Prior to joining the bank, Sashi was a senior officer in the country financial control division of Deutsche Bank, AG, Mumbai.
He has completed his graduation in Science with specialization in Physics, and is also a Chartered Accountant. He also holds a Master's degree in Economics of Money, Banking & Finance from the University of Sheffield, UK..