In a significant move following the merger of HDFC and HDFC Bank, Sashidhar Jagadishan has been named as the MD and CEO of HDFC Bank, now the world’s fourth-largest bank.
Who is Shashidhar Jagadishan?
With a remarkable 31 years of experience, Shashidhar Jagadishan brings a wealth of expertise to his role.
He holds a degree in Science, specializing in Physics, and is a Chartered Accountant. He further bolstered his knowledge with a Master’s degree in Economics of Money, Banking, and Finance from the University of Sheffield, United Kingdom.
Jagadishan’s journey at HDFC Bank began in 1996 when he joined as a Manager in the Finance Department.
Over the years, he progressed within the organization, assuming the role of Business Head – Finance in 1999 and eventually being appointed as Chief Financial Officer in 2008.
Historic HDFC and HDFC Bank Merger
The merger of HDFC and HDFC Bank officially commenced on July 1, 2023, marking one of the most substantial corporate deals in history.
This merger was structured as an all-stock transaction valued at $40 billion. Notably, post-merger, HDFC Bank became entirely publicly owned, benefiting shareholders.
Recent Performance of HDFC Bank Shares
On the previous trading day, Monday, HDFC Bank shares experienced a 2 percent decline on the BSE, closing at Rs 1,629.65.