Bhavesh Zaveri was appointed as executive director by HDFC Bank on Friday, while executive director Kaizad Bharucha was renamed as the company's deputy managing director for a three-year term. The selections were made in accordance with the board's recommendations during its meeting on Thursday.
The bank's shareholders and the RBI must both approve the appointments, according to the company.
Prior to this, Bhavesh Zaveri worked for the Oman International Bank and Barclays Bank, and Kaizad Bharucha had experience with SBI Commercial and International Bank in a variety of capacities, including corporate banking and trade finance.
The HDFC Bank's Zaveri, who serves as the group head of operations, cash management, and ATM products, is in charge of the company's business and operations throughout the nation as well as developing and delivering an impeccable operations execution capability across the bank's diverse product suites to corporate, MSME, and retail verticals.
He started working for the bank in 1998 and has more than 36 years of experience overall. In addition to being named Group Head of Operations in 2009 and Business Head of Wholesale Banking Operations in 2000, Zaveri also received new duties for the Information Technology role in 2015. According to the business, Zaveri helped the bank become more digital.
Zaveri is a Certified Associate of the Indian Institute of Bankers and has a Master's in Commerce from Mumbai University.
Kaizad Bharucha, a career banker, has more than 35 years of experience, like Zaveri. He started working there in 1995.
Bharucha is in charge of wholesale banking, which includes coverage of corporate banking, PSUs, capital and commodities markets, financial institutions, custody, mutual funds, global capability centres, and financial sponsors.
He oversaw corporate banking, business banking, healthcare financing, agri-lending, tractor financing, commercial vehicle financing, commercial equipment financing, infrastructure financing, etc. in his capacity as an executive director. Additionally, he serves as the Internal Ombudsman Committee's and the Financial Intelligence Unit's Designated Director. Bharucha has a wealth of knowledge in banking, company management, risk management, and credit management.