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Last Updated : Aug 10, 2018 08:26 PM IST | Source: Moneycontrol.com

HDFC Bank Deputy MD Paresh Sukthankar resigns

Paresh Sukthankar, Deputy Managing Director of HDFC Bank, has resigned. The resignation will be effective after three months.

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Paresh Sukthankar, Deputy Managing Director of HDFC Bank, has resigned. The resignation will be effective after three months.

Sukthankar has been with HDFC Bank since its inception in 1994. He was promoted to Deputy MD from executive director in March 2017.

He has rich experience in areas such as Risk Management, Finance, Human Resources, Investor Relations, and Corporate Communications etc.

Prior to joining the bank, Sukthankar worked in Citibank for around 9 years, in various departments including corporate banking, risk management, financial control and credit administration. He has been a member of various Committees formed by Reserve Bank of India and Indian Banks' Association.

Sources told CNBC-TV18 Sukthankar resigned for personal reasons and reportedly told the senior management he wanted ‘a change’ from current responsibilities. He is unlikely to join a rival like Axis Bank, they said.

The bank reportedly wanted Sukhthankar to stay on and tried to persuade him to rethink his decision. However, Sukhthankar chose to step down.

HDFC Chairman Deepak Parekh said Sukthankar has done a splendid job and although he does not know or think Sukthankar will join Axis Bank, he will be a free man after 90 days and could join anywhere.

Shares of HDFC Bank ended at Rs 2,115.00, down Rs 3.65, or 0.17 percent Friday.

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First Published on Aug 10, 2018 05:25 pm
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