Another significant development has occurred in this area after HDFC and HDFC Bank merged. According to a source, Shashidhar Jagadeesan, CEO of HDFC Bank, has separated retail loans into two groups: mortgage segment and non-mortgage segment. For these two new segments, there will be two group heads and two regional heads.
HDFC Bank update – This modification becomes effective on October 1st
The bank informed the staff about this by sending an internal email on October 3, according to news reports in the Economic Times. It was stated that this modification would take effect on October 1. In the bank’s thirty-year history, Jagadishan is the second CEO. He explained to the bank staff that employing the strategy we have developed will help them focus more quickly for improved performance following the organizational transformation.
According to Jagadeesan’s message
HDFC Bank would restructure its senior management with an emphasis on customer-centricity in order to better serve its clients and give its stakeholders more for their money. Additionally, we need to compete effectively in the market. The senior management would be restructured by HDFC on behalf of the bank, according to an internal email given to the staff.
According to a report from Bloomberg News
Ramesh Lakshminarayanan has been appointed as the bank’s chief information officer, reporting to CEO Shashidhar Jagadeesan. In addition, Ashish Parthasarathy, who has been in charge of the Treasury since 2009, will now be in charge of the retail branch business.
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