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HDFC Bank has appointed Paresh Sukthankar as its deputy managing director (DMD) on Tuesday. Earlier, Sukthankar served as the bankís executive director. The bank has also appointed Kaizad Bharucha as its executive director, in place of Harish Engineer, who retired on September 30. Bharucha was the group head of wholesale banking at HDFC Bank till now.
In a notification to the stock exchanges, the private sector lender said that the appointments are subject to approvals from shareholders and the RBI. Sukthankar, who has been with HDFC Bank since its inception in 1994, would be its first DMD.
Prior to joining the private bank, he worked at Citibank for nine years in various functions, including corporate banking, risk management, financial control and credit administration. Bharucha used to work for SBI Commercial and International Bank.
He also serves as a director at International Asset Reconstruction Company of India, HDB Financial Services and HBL Global.