HDFC Bank MD Aditya Puri's successor: REVEALED? Here is what he said about preferred candidate

Who will be HDFC Bank Managing Director (MD) and Chief Executive Officer (CEO) Aditya Puri's successor? Well, Puri has revealed that his preferred successor is an internal candidate who has spent 25 years at the lender.

Without naming the candidate, Puri said, "He (the successor) has been with us for 25 years...my successor was always in place, at least in my mind." Puri told shareholders at the bank's virtual AGM. Seeking to assuage concerns on training and business understanding, he also said the candidate has "learnt very well".

It can be noted that Puri has been widely credited with building the bank as the most valued one by investors over nearly 26 years, and who succeeds him at the corner office is the subject of intense interest in banking and industry circles.

Earlier this year, a media report said the bank had selected the names of internal candidates Sashidhar Jagdishan and Kaizad Bharucha, and Citi's Sunil Garg as the probable candidates, as per a report in PTI.

In June, the bank said it has given three names in order of their preference to the RBI.

"It is up to the RBI now to decide among what we have given to them," Puri said, reiterating that succession was not a problem for the bank.

Jagdishan has been with the bank since 1996 and joined as a manager in the finance function. He was appointed as a change agent recently and heads the finance, human resources, legal and secretarial, administration, infrastructure, corporate communications and corporate social responsibility functions.

Bharucha has been with the bank since 1995 and presently serves as an executive director in charge of wholesale banking.