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Tag: shortlists

HDFC Bank shortlists three names to replace Aditya Puri as CEO

HDFC Bank shortlists three names to replace Aditya Puri as CEO

Finance
HDFC Bank has “finalised the names of three candidates for the position of the managing director and chief executive officer of the Bank”. These names will be submitted to Reserve Bank of India for its approval and upon receiving that due disclosures will be made, the bank said in a statement to the stock exchanges on Saturday. According to an earlier ET report, the bank has three contenders to succeed Puri. These include Sashidhar (Sashi) Jagdishan and Kaizad Bharucha, both executive directors of the bank, and Sunil Garg, global CEO of Citi Commercial Bank. Puri, 69, is credited with building the bank from scratch since its 1994 inception and turning it into a financial giant with a balance sheet size of nearly Rs 14 lakh crore. His term will end in October 2020. The bank had constituted ...
Lakshmi Vilas Bank shortlists five investors to sell stake

Lakshmi Vilas Bank shortlists five investors to sell stake

Finance
MUMBAI: Five financial investors, including the Blackstone Group, Bain Capital and TPG Capital Management, have been shortlisted to buy a controlling stake in Lakshmi Vilas Bank, reflecting continued private equity interest in the country’s financial services space. Baring Private Equity Asia and home-grown Gajja Capital are the two other contenders left in the penultimate round to acquire the 92-year-old, South-based bank, multiple sources with knowledge of the matter told ET. "Our advisers JP Morgan have shortlisted a few of the bidders," said P Mukherjee, managing director of the bank in an email reply confirming the matter. The process continues now. The extent of investment and the timing thereof is yet to be worked out," he said. The non-binding offers are in the range of Rs 140 to R...