HDFC Bank deputy MD Bharucha to step down

HDFC Bank deputy managing director Kaizad Bharucha will step down from his role on Dec 31, 2026. Bharucha was twice a contender for the top job at the bank.His exit comes 10 days before Anup Bagchi, an ICICI group veteran, takes charge from MD and CEO Sashidhar Jagdishan, who steps down at the end of the month.Both Jagdishan and Bharucha are leaving after three decades with the bank.Jagdishan described their departures as personal decisions and said the bank was governed by institutional systems rather than individual personalities.The board also approved the reappointment of Lily Vadera as an independent director for three years.With the upcoming departures leaving fewer executive directors on the board,Jagdishan said the bank had sufficient internal leadership depth and left further appointments to the board and the incoming CEO.You use AI every day. Now get your AI Quotient. Take the AIQ test.