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Last Updated : Jul 12, 2019 10:10 PM IST | Source: Moneycontrol.com

HDFC Bank's Aditya Puri reveals an important trait he would want in his successor

Laying down a brief outline for the criteria, current HDFC Bank head Aditya Puri suggested that knowledge of technology and digital drive would be the top traits of focus for its next leader

Parnika Sokhi @ParnikaSokhi
 
 
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The country's largest private lender HDFC Bank is all set to search for its next managing director and chief executive officer.

While laying down a brief outline for the criteria, its current head Aditya Puri suggested that knowledge of technology and digital drive would be among the top traits that the lender will focus on.

"He has leadership, he should command and not demand respect, good idea about technology and fundamental knowledge about the economy," Puri said while speaking after the bank's annual general meeting on July 12.

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"Digital is important not only for him but for everybody. The world is changing," he added.

Of late, the government and the Reserve Bank of India (RBI) have prodded banks to move to digital and a 'less cash' economy, by giving incentives for faster adoption of omnichannel platforms such as internet and mobile banking.

As a result, most lenders, especially state-owned, are reducing the number of branches and Automated Teller Machines (ATMs) to cut costs.

However, Puri is of the view that digital and physical (branches) will continue to co-exist while the nature of branches will change depending upon customer needs.

He added that HDFC Bank will open 600 to 800 branches going ahead.

Puri, who turns 70 next year, took over the reins of the bank in 1994 and became one of the longest-serving chiefs in private banking.

Other lenders like ICICI Bank, Axis Bank and YES Bank have already seen a change of guard, though under different circumstances as the long-time heads of these banks stepped down due to regulatory reasons.

In its 2018-19 Annual Report, HDFC Bank said that the board's nomination and remuneration committee will constitute a committee to undertake a global search of internal and external candidates.

Puri added that an external agency will also be hired for the same. He retires in October 2020.
First Published on Jul 12, 2019 08:43 pm
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