Banking on continuity

Mr Puri's successor has to match his stellar track record

There’s a change of the guard at HDFC Bank, which is among the highly valued lenders in the world with a PE multiple of 23. After a long stint that took the private lender to the top in the financial sector league, Aditya Puri is retiring as managing director in October this year, and will be replaced by Sashidhar Jagdishan. The latter is also a long-term HDFC Bank insider, having been associated with the bank since 1996 in various capacities. The bank has grown to become one of India’s three largest banks, and it has consistently improved its financial performance