HDFC Bank's Deputy Managing Director Paresh Sukthankar resigns, to step down in November
Paresh Sukhtankar was seen as a successor to Managing Director Aditya Puri, who will be stepping down in October 2020
HDFC Bank's Deputy Managing Director Paresh Sukthankar has tendered his resignation, the lender informed the markets on Friday.
"Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby inform you that Mr. Paresh Sukthankar has tendered his resignation as Deputy Managing Director of the Bank, to be effective 90 days from the close of business hours of today," the bank said in a regulatory filing.
According to The Economic Times, Sukhtankar was seen as a successor to Managing Director Aditya Puri, who will be stepping down in October 2020.
Sukthankar, who previously served as the bank's executive director, was appointed as deputy managing director in March 2017.
Sukthankar has been with HDFC Bank since its inception in 1994. Prior to joining HDFC Bank, Sukthankar worked in Citibank for around nine years, in various departments including corporate banking, risk management, financial control and credit administration, the lender said on its website.
Sukthankar has been a member of various committees formed by the Reserve Bank of India (RBI) and the Indian Banks' Association.
Sukthankar has completed the Advanced Management Program (AMP) from the Harvard Business School. Earlier, he earned a Masters in Management Studies (MMS) from Jamnalal Bajaj Institute (Mumbai).
Market Roundup: Sensex ends 32 points up after volatile day of trade, metals shine; today's top gainers & losers
The top gainers were Bajaj Finserv, Bajaj Finance, Axis Bank, Reliance, and Indusind Bank, while the top laggards included HDFC, HCL Tech, Bajaj Auto, Larsen & Toubro (LT), and SBI
At the closing bell on Friday, all the sectoral indices except for Nifty Pharma were trading in the negative; Nifty Financial Services was down by 3.03 percent
The top gainers of the day were Larsen & Toubro (LT), Bajaj Finance, Reliance, Indusind Bank, and SBI. The top laggards included Maruti, NTPC, Kotak Bank, Nestle India