HDFC Bank is likely to name Deputy Managing Director Kaizad Bharucha as one of two options for its next CEO after incumbent Sashidhar Jagdishan retires at the end of his second term in October, as per sources and media reports.
India’s largest private sector bank is also searching for an external candidate for the role of MD & CEO of HDFC Bank. As per RBI rule, banks should submit multiple names for the CEO position.
About Kaizad Bharucha
Mr. Kaizad M Bharucha is the Deputy Managing Director of the Bank with effect from April 19, 2023. A career banker with over 35 years of experience, he has been with the Bank since 1995.
He currently leads Corporate Banking, Emerging Corporates Group, Business Banking – Working Capital, Investment Banking, Rural Banking Group, Emerging Enterprises Group, Healthcare Finance, Sustainable Livelihood, Retails Assets, and Mortgage Business.
Additionally, Transportation, Tractor Finance and Infrastructure Group; Realty Business Finance are under his charge. Mr. Bharucha also heads the Inclusive Banking Initiatives Group, Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) functions.
He joined the Board of the Bank in 2014. Over the span of his tenure as the Bank’s Executive Director, Mr Bharucha managed diverse portfolios, including Corporate Banking, PSUs, Capital & Commodities Markets, Financial Institutions, Emerging Corporates Group, Business Banking, Healthcare Finance, Agri-Lending, Tractor Financing, Commercial Vehicle Finance, Commercial Equipment Finance, Infrastructure Finance, Department for Special Operations and Inclusive Banking Initiatives.
Prior to that, as Group Head – Credit & Market Risk, he led the risk management activities at the Bank viz. Credit Risk, Market Risk, Debt Management, Risk Intelligence and Control Functions.
Mr. Bharucha is also the Designated Director, Financial Intelligence Unit (FIU) and the Designated Director, Internal Ombudsmen Committee. He represents the Bank in various interactions with regulators and government agencies. He has represented the Bank as a member of the Working Group on banking related committees.
Prior to joining HDFC Bank, he worked in SBI Commercial and International Bank. Mr Bharucha holds a Bachelor’s degree in Commerce (B.Com) from Sydenham College of Commerce and Economics (University of Mumbai).
