Major organizational rejig at HDFC Bank

HDFC Bank has announced a major organizational reshuffle, changing the portfolios of the bank’s core team.

The bank’s Executive Director Kaizad Bharucha will continue to head wholesale banking, including corporate banking group, capital and commodities markets group and financial Institutions. Rahul Shyam Shukla, currently the Group Head – Wholesale Banking, will now head Commercial Banking (MSME) and the Rural vertical. Smita Bhagat, currently Country Head of Government and Institutional Business, e-Commerce and Startups, will continue to head Govt/Institutional Banking and drive the expansion of the bank’s rural presence, as well as the startup sector. Arvind Kapil, currently Country Head - Retail Assets, will continue to head retail assets portfolio. Rakesh Singh, currently the Group Head – Investment Banking and Private Banking, will now also be responsible for marketing, retail liability products and managed programs. Parag Rao, currently Country Head – Payments, Consumer Finance, Digital Banking and Marketing, will now drive the technology transformation and digital agenda and payments vertical. Ramesh Lakshminarayanan, Chief Information Officer, and Anjani Rathor, Chief Digital Officer, will report to Rao. Ravi Santhanam, currently the bank’s Chief Marketing Officer, will now also be responsible for driving digital marketing as a stand-alone delivery channel. Santhanam will additionally be responsible for the retail liability products and managed programmes at the bank. Sampath Kumar, currently Group Head - Liability Products, Third Party Products, and Non-resident Business, will now be in charge of all Tele-service Relationships, including VRM delivery channel of the bank. Arvind Vohra, Group Head - Retail Branch Banking, Retail Trade and Forex will continue to drive the efforts to expand through branch banking. Ashish Parthasarathy - Group Head, Treasury and GIB will now also be responsible for the tele-service/sales/ relationship channel. Bhavesh Zaveri, Group Head - Operations, will continue to handle the entire operations of the bank, and additionally, be responsible for the entire ATM channel operations across the country.