HDFC Bank, on Friday, announced the appointment of Bhavesh Zaveri as Executive Director and the re-designation of Executive Director Kaizad Bharucha as the Deputy Managing Director of the HDFC Bank for a period of three years. The appointments were based on the recommendations of the board in its meeting held on Thursday.
The HDFC Bank said that the appointments would be subject to the approval of the Reserve Bank of India and the bank's shareholders.
Mr Bhavesh Zaveri worked with the Oman International Bank and Barclays Bank before this. In contrast, Kaizad Bharucha had worked with SBI Commercial and International Bank in various areas including trade finance and corporate banking.
Mr Zaveri, the Group Head of Operations, Cash Management and ATM Product of HDFC Bank is responsible for the business and operations across the country and for creating and delivering a flawless operations execution capability across the diversified product suits of the bank to corporate, MSME and retail verticals.
He has an overall experience of over 36 years and joined the bank in 1998 in the operations function. Zaveri was appointed Business Head of Wholesale Banking Operations in 2000, Group Head of Operations in 2009 and was given additional responsibilities of the Information Technology function in 2015. The company said that Zaveri contributed to the digital transformation of the bank.
Mr Zaveri holds a Master’s Degree in Commerce from Mumbai University and is a Certified Associate of the Indian Institute of Bankers.
Like Mr Zaveri, career banker Mr Kaizad Bharucha also has more than 35 years of experience. He joined the company in 1995.
Mr Bharucha is responsible for Wholesale Banking, covering areas of corporate banking, PSUs, capital & commodities markets, financial institutions, custody, mutual funds, global capability centre & financial sponsors coverage, and bank coverage.
As an Executive Director, he was responsible for corporate banking, business banking, healthcare finance, agri-lending, tractor financing, commercial vehicle finance, commercial equipment finance, infrastructure finance etc. He is also the Designated Director for Financial Intelligence Unit (FIU) and the Internal Ombudsmen Committee. Mr Bharucha has extensive experience in risk management, credit management, banking and business management.