Kaizad Bharucha became the new deputy MD of HDFC
Kaizad Bharucha became the new deputy MD of HDFC: Bhavesh Jhaveri was made the new executive director of the bank, both will hold the post for 3 years
HDFC Bank has appointed Kaizad Bharucha as its new Deputy Managing Director (MD). Apart from Kaizad, HDFC has appointed Bhavesh Jhaveri as the new executive director of the bank. Both Kaizad and Bhavesh will hold the post from April 19 for 3 years.
The board of HDFC Bank had recommended the names of Kaizad Bharucha and Bhavesh Zaveri to the Reserve Bank of India (RBI) for appointment to the board on 24 November 2022.
Kaizad Bharucha has a banking career spanning over 35 years. He is with HDFC Bank since 1995. In his role as Executive Director, Kaizad was responsible for Corporate Banking, PSUs, Capital & Commodities Markets, Financial Institutions, Custody, Mutual Funds, Global Capability Center and Financial Sponsor Coverage.
Prior to this, Kaizad Bharucha also handled the responsibilities of Corporate Banking, Emerging Corporate Groups, Business Banking, Healthcare Finance, Agri Lending, Tractor Financing, Commercial Vehicle Finance etc.
Bharucha has vast experience in Risk Management, Credit Management and Banking & Business Development. Prior to HDFC Bank, he worked in various areas of SBI Commercial and International Bank.
Coming to Bhavesh Jhaveri, was earlier the Group Head of Operations, Cash Management and ATM Products at the bank. He was responsible for business and operations in the country. Jhaveri has an overall experience of 36 years. He has also led the operations, cash management and technology functions of the bank.
Jhaveri joined HDFC Bank in 1998. He became the Business Head of Wholesale Banking Operations in 2000 and Group Head of Operations in 2009. Then in 2015, he was given additional responsibilities in the Information Technology function.
Jhaveri also contributed significantly to the digital transformation of the bank. Jhaveri attended the RBI's Internal Payments Council meeting and was part of the Umbrella Organization for Payments Committee of 2004, which led to the formation of the National Payments Corporation of India (NPCI).
Jhaveri earned a master's degree in commerce from the University of Mumbai. He is a Certified Associate of the Indian Institute of Bankers. Before joining HDFC Bank, Zaveri worked for Oman International Bank and Barclays Bank.
