HDFC Bank has submitted two names in order of preference to RBI for appointment as its next managing director and CEO. The move by the India's private
sector lender is setting in motion the succession process ahead of Sashidhar Jagdishan's exit at the end of Oct. Alongside the CEO shortlist, the board also approved a revamp of its senior management by elevating chief credit officer Jimmy Tata as an executive director for three years. This is subject to RBI approval, and seeking a one-year extension for executive director V Srinivasa Rangan from Nov 23, 2026, and creating an additional executive director post. The changes will take the number of whole-time directors at India's largest private lender to four. The new position will be finalised in consultation with the incoming MD and CEO. HDFC Bank's Sashidhar Jagdishan had said he will leave the bank later this year after deciding against seeking another term at the helm. The lender informed the stock exchanges on Saturday that Jagdishan will retire from the bank’s services on October 26, 2026. Jagdishan’s decision comes as the country’s largest private sector lender prepares for a change in leadership. The bank said its board will accelerate the process of identifying and appointing his successor. HDFC Bank has seen a sharp decline in foreign investor ownership by over 10%. Foreign institutional investor (FII) holding in HDFC Bank has declined sharply over the past three years, falling from 52.13% in September 2023 to 41.82% in June 2026. This represents a decline of 10.31 percentage points, indicating a significant reduction in foreign investors’ ownership of the country’s largest private sector lender.
