Money & Banking

HDFC Bank unveils organisational changes to power future growth

Our Bureau Mumbai | Updated on April 30, 2021

The bank aims to digitally transform to ‘capitalise on opportunities’   -  SHAILESH ANDRADE

Creates 3 new areas; business verticals, delivery channels, technology/ digital

The country’s largest private sector lender HDFC Bank on Friday unveiled organisational changes under ‘Project Future – Ready’ for its next wave of growth.

“The bank is reorganising itself into three clear areas of Business Verticals, Delivery Channels and Technology/ Digital to further build its execution muscle and be ready for the future,” it said in a statement, adding that the creation of focused business verticals and delivery channels will enable it to capitalise on the opportunities across customer segments in the time to come.

HDFC Bank will re-double its efforts on its business verticals that include corporate banking, retail banking, private banking, government and institutional banking, retail assets and payments as well as commercial banking or the MSME vertical, it further said.

‘Engines of growth’

“We are creating engines of growth with top tier talent backed by technology and digital transformation to capitalise on opportunities that will accrue in the coming time,” said Mr Sashi Jagdishan, MD, HDFC Bank

Kaizad Bharucha, Executive Director, will continue to drive the wholesale bank including corporate banking group, capital and commodities markets group and financial institutions, HDFC Bank said.

Rahul Shukla, Group Head, will now be responsible for commercial banking (MSME) and rural vertical while Rakesh Singh, Group Head – Investment Banking and Private Banking will also be responsible for marketing, retail liability products and managed programmes.

Parag Rao, Group Head – Payments Business, will now drive the technology transformation and digital agenda, the bank said, adding that he will continue to be responsible for the payments vertical. Ramesh Lakshminarayanan, Chief Information Officer and Mr Anjani Rathor, Chief Digital Officer will report to Rao, the bank said.

Ravi Santhanam, CMO, will now be also responsible for driving digital marketing as a stand-alone delivery channel. He will also be additionally responsible for the retail liability products and managed programmes.

Sampath Kumar, Group Head – NRI will now be in charge of all tele-service relationships, including VRM delivery channel of the Bank.

“The role of Credit, Risk, Control and enabling functions continue to be critical as we scale up further in size and reach,” HDFC Bank said, adding that the current leadership would continue in these roles and support in the transformation journey to realise the vision of ‘Project Future Ready’.

Published on April 30, 2021

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