RBI okays reappointment of Kaizad Bharucha as HDFC ED

The Reserve Bank of India has approved the re-appointment of Kaizad Bharucha as Executive Director of HDFC Bank for a period of three years with effect from June 13, 2020, the private sector lender said in a regulatory filing.

“Bharucha’s re-appointment is subject to the approval of the shareholders at the ensuing Annual General Meeting of the Bank,” it added.

Bharucha ‑ who holds a Bachelor of Commerce degree from University of Mumbai ‑ has been associated with the Bank since 1995.

In his current position as Executive Director, he is responsible for Wholesale Banking covering areas of Corporate Banking, Emerging Corporate Group, Business Banking, Capital Markets & Commodities Business, Agri Lending, Investment Banking, Financial Institutions & Government Business and Department for Special Operations.

He has driven growth and profitability in the aforesaid areas of the Wholesale banking segment of the Bank. In his previous position as Group Head – Credit & Market Risk, he was responsible for the Risk Management activities in the Bank viz., Credit Risk, Market Risk, Debt Management, Risk Intelligence and Control functions.

Bharucha has been a career banker with over three decades of banking experience. Prior to joining the Bank, he worked in SBI Commercial and International Bank in various areas including Trade Finance and Corporate Banking. He has represented HDFC Bank as a member of the working group constituted by the Reserve Bank of India to examine the role of Credit Information Bureau and on the sub-committee with regard to adoption of the Basel II guidelines. As the Executive Director of HDFC Bank, the total compensation of Kaizad Bharucha at HDFC Bank is $58,778,600.

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