HDFC Bank on Saturday said it has appointed Jimmy Tata as a Whole-time Director, designated as Executive Director, for a period of three years, subject to approval from the Reserve Bank of India (RBI).
The appointment, along with the remuneration payable to him, will be effective from the date of approval or any other date or period specified by the central bank, the lender said in an exchange filing.
Who is Jimmy Tata?
Jimmy Tata currently serves as the bank’s Chief Credit Officer. He holds a Master of Financial Management degree from the Jamnalal Bajaj Institute of Management and is a Chartered Financial Analyst from the Institute of Chartered Financial Analysts of India. He has more than 35 years of experience in the banking and financial services sector.
Tata began his professional career in 1987 as a consultant with Strategic Consultants Pvt Ltd. Two years later, he joined Apple Industries Ltd, where he eventually headed its Wholesale Leasing and Hire Purchase Division. He joined HDFC Bank in 1994 as a Relationship Manager in the Corporate Banking Department and went on to become its head.
In June 2013, Tata took over as Chief Risk Officer of HDFC Bank.
Besides his role at , Tata serves on the boards of International Asset Reconstruction Co. Pvt. Ltd (IARC) and HDB Financial Services Ltd. He is also a trustee of the HDB Employees Welfare Trust.
V Srinivasa Rangan’s reappointment
Meanwhile, the board also approved the reappointment of V Srinivasa Rangan as Whole-time Director, with the designation of Executive Director, for a one-year term from November 23, 2026, to November 22, 2027, subject to the required approvals.
HDFC Bank expands Whole-time Director strength
HDFC Bank has approved the creation of an additional Whole-time Director position, increasing the number of Whole-time Directors on its board to four, apart from the Managing Director and Chief Executive Officer.
The bank said the new position is aimed at enabling “sharper synergy and oversight”, including across its subsidiaries, while also strengthening its succession planning framework.
The appointment to the newly created position will be made in consultation with the incoming MD and CEO after the new chief takes charge, HDFC Bank said in its filing. The added that the required approval from shareholders will be sought at a later stage.
HDFC Bank submits two names to RBI for MD, CEO post; candidates remain undisclosed
HDFC Bank has also sent the RBI the names of two candidates for the positions of Managing Director and Chief Executive Officer, the lender said.
The candidates were listed in order of preference, along with the proposed remuneration for a three-year tenure, subject to RBI approval, according to an exchange filing. The bank did not disclose their identities.