HDFC Bank Reappoints Sandeep Parekh and M.D. Rangnath as Independent Directors
The Board of Directors of HDFC Bank has approved the reappointment of Sandeep Parekh as an Independent Director of the bank for a period of 3 years, with effect from January 19, 2024, to January 18, 2027. Parekh is the managing partner of Finsec Law Advisors. He was an Executive Director at the Securities and Exchange Board of India (SEBI). He is a visiting faculty member at the IIM, Ahmedabad. Parekh has worked for law firms in Delhi, Mumbai, and Washington, D.C. He is admitted to practice law in New York. He was recognised by the World Economic Forum as a “Young Global Leader”. He was Chairman and member of various SEBI and RBI committees and subcommittees. He sits on the Advisory Committee of the School for Regulatory Studies and Supervision (SRSS) of the National Institute of Securities Markets (NISM). He has published op-eds in the Financial Times and the Economic Times. He holds an LL.M. (Securities and Financial Regulations) degree from Georgetown University and an LL.B. degree from Delhi University.
The board has also approved the reappointment of M. D. Ranganath as an Independent Director, for a period of 3 years, with effect from January 31, 2024, to January 30, 2027. Ranganath has over 32 years of experience in the global IT and financial industries. He is currently Chairman of Catamaran Ventures. He was CFO of Infosys and played leadership roles in areas such as Strategy, Finance, Merger and Acquisition (M&A), Consulting, Risk Management, and Corporate planning- culminating in the role of CFO. Prior to Infosys, he worked at ICICI Limited. He received the Best CFO Asia award in the technology sector. He holds a Master’s degree in technology from IIT, Madras, and a Bachelor’s degree in engineering from the University of Mysore. He is a PGDM from IIM, Ahmedabad, and a member of CPA Australia.
The Reserve Bank of India has approved the reappointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of the bank for a period of 3 years, with effect from October 27, 2023, to October 26, 2026. Jagdishan is the MD and CEO of HDFC Bank and has 31 years of experience. He joined the bank in 1996 as a Manager in Finance. He became Business Head – Finance in 1999 and was appointed CFO in 2008. Prior to his appointment as MD and CEO of the bank, he was the Group Head of the bank, overseeing the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. He is a Chartered Accountant, holds a Master’s degree in Economics of Money, Banking and Finance from the University of Sheffield, United Kingdom. has completed his graduation in science with a specialisation in physics.