Aditya Puri, who retired as the CEO of HDFC Bank on October 26, has joined global investment firm Carlyle as senior adviser.
Carlyle said, "Puri will advise the Carlyle team on investment opportunities across Asia. Puri will provide guidance on the evolving market landscape and new investment opportunities, while also advising Carlyle’s investment professionals and portfolio management teams on building differentiated high quality businesses."
Puri was the first CEO of HDFC Bank when it was set up in 1994 and ran the bank for 26 years before retiring on October 26, 2020. Puri grew HDFC Bank into the largest private sector bank in India with over $210 billion of assets, and the most valuable bank in India with a market cap of over $90 billion.
Puri, commented, “I am very impressed with Carlyle’s track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia. Whether this is with founder-led businesses or large conglomerates, Carlyle’s focus on building better businesses is something I have a great affinity for. It will therefore be a pleasure to act as senior advisor to the Carlyle team in support of their investing activities across Asia.”
Sashidhar Jagdishan has replaced Aditya Puri as Managing Director and Chief Executive Officer of HDFC Bank.
HDFC Bank, from Rs 4 per share in 1995, jumped to Rs 1,213 on October 26 (the adjusted price for all relevant corporate actions happened so far), the day MD & CEO Puri retired from HDFC Bank.The stock saw a 303-fold increase during Puri's years with HDFC emerging as the largest private sector lender in the country by market capitalisation, total loan book and interest income. It not only emerged on top of the heap but also widened the gap with the closest rival ICICI Bank.