Leadership Shuffle Hits Private Banks, HDFC Bank And Ujjivan SFB Begin Hunt For New CEOs
· Free Press Journal
New Delhi: India’s private banking sector is witnessing a major leadership reshuffle, with HDFC Bank and Ujjivan Small Finance Bank beginning searches for new managing directors and CEOs. Kotak Mahindra Bank and Fino Payments Bank are also reportedly at advanced stages of their succession processes.
HDFC Bank Steps Up CEO Search
The HDFC Bank CEO succession has gained importance after MD and CEO Sashidhar Jagdishan decided not to seek reappointment when his current term ends on October 26.
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Kaizad Bharucha, Dinesh Khara, Amitabh Chaudhry: Who All Are In The Race For Top Job At HDFC BankJagdishan, who has spent nearly three decades with HDFC Bank, has led the lender through several challenges. The bank’s board has said it will fast-track the selection of his successor.
His decision follows the resignation of non-executive chairman Atanu Chakraborty in March.
Ujjivan SFB, Kotak Bank See Changes
Ujjivan Small Finance Bank is also searching for a new chief after MD and CEO Sanjeev Nautiyal sought early retirement. The former SBI deputy managing director had taken charge in July 2024 for a three-year term.
Ujjivan SFB CEO Sanjeev Nautiyal Retires Early, Carol Furtado Takes Interim ChargeMeanwhile, Kotak Mahindra Bank is reportedly considering internal candidates after MD and CEO Ashok Vaswani decided against seeking an extension beyond December 31, 2026.
Fino Payments Bank Seeks New Chief
Fino Payments Bank began looking for a new CEO after Rishi Gupta was arrested in February over alleged GST law violations. CFO Ketan Merchant was subsequently named interim head.
RBI Extends Fino Payments Bank Interim CEO Ketan Merchant’s Tenure By 3 MonthsUnder the usual appointment process, bank boards shortlist candidates and submit their preferred names to the Reserve Bank of India (RBI) for approval.
The simultaneous CEO searches signal an important leadership transition across several prominent private-sector banks.