The Reserve Bank of India, in 2020, approved the appointment of Sashidhar Jagdishan who later took charge as HDFC Bank's new MD and CEO as Managing Director for 26 years Aditya Puri retired.
At the time of Sashidhar Jagdishan's appointment, RBI, in a regulatory filing had said, "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."
Jagdishan has extensive knowledge and experience in the fields of banking, finance, and economics, it added.
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Sashidhar Jagdishan's journey: From Manager to CEO
Sashidhar 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, Jagdishan became Business head - Finance and in 2008, the Chief Financial Officer of HDFC Bank.
In 2019, he was appointed the 'Change Agent of the Bank' and given additional responsibilities of Legal and Secretarial, Human Resources, 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.
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Sashidhar Jagdishan 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.
Sashidhar Jagdishan's Salary
As the Chief Executive Officer and Managing Director of HDFC Bank, the total compensation of Sashidhar Jagdishan at HDFC Bank is Rs 6.51 crore, as per a 2022 report in the Economic Times.
The highest-paid bank executive for FY22 was Kaizad Bharucha, executive director of HDFC Bank, who emerged as the highest-earning banker for 2021-22 (FY22). Kaizad Bharucha, who oversees wholesale banking at HDFC Bank, received Rs 10.64 crore in remuneration in FY22.
