HDFC Bank Ltd has officially appointed Puneet Sharma as Chief Financial Officer from December 1, 2026, with the decision taken by the board at its meeting held on June 29, 2026. As per The Hindu BusinessLine, Sharma will serve as CFO-designate from September 1, 2026, before formally taking charge as chief financial officer on December 1, 2026. The appointment was made based on recommendations of the Audit Committee and Governance, Nomination and Remuneration Committee. Sharma will be a Key Managerial Personnel under Section 203 of the Companies Act, 2013, and meets the qualifications under the Reserve Bank of India (Commercial Banks – Governance) Directions, 2025 for CFO appointment. According to Essential Business Intelligence, Sharma is set to join India's largest private lender after serving as Group Chief Financial Officer at Axis Bank since March 2020, where he resigned on Sunday and will continue until August 31, 2026.
HDFC Bank shares ended at ₹799.00, up by ₹2.95, or 0.37%, on the BSE following the announcement of key leadership appointments. As per ET Now, the market response reflects investor confidence in the bank's strategic leadership transitions. The appointments of Puneet Sharma as CFO-designate and Jigar Shah as General Counsel-designate have put the lender's share price in focus among investors and market participants.
According to reports from CNBC-TV18, Puneet Sharma, who resigned from Axis Bank on Sunday, is expected to succeed HDFC Bank CFO Srinivasan Vaidyanathan after his term ends in October. The move represents another significant senior leadership change in India's private banking sector this year. CNBC-TV18 has learned that HDFC Bank's Nomination and Remuneration Committee is scheduled to meet on Monday, with Sharma's appointment likely to come up for discussion. As per The Economic Times, HDFC Bank officially appointed Puneet Sharma as its next finance chief on Monday, hours after the veteran banker announced his resignation from rival financial institution Axis Bank.
According to Outlook Business, during his more than six-year tenure as CFO, Sharma focused on building a strong finance function with robust financial controls, reporting discipline, governance, and a resilient balance sheet. In his resignation letter, Sharma reflected on his core mandate to "build a strong team with deep functional strength, robust financial controls and reporting discipline, incorporate prudent financial practices, build a resilient balance sheet and improve shareholder trust. These objectives are now largely complete," as reported by Essential Business Intelligence. During his stint at Axis Bank, Sharma played a key role in several strategic initiatives, including the acquisition and integration of Citibank India's consumer business, capital raises that strengthened the bank's balance sheet, and increased investments in technology and digital banking. He also oversaw the bank's legal, secretarial, procurement and investor relations functions, becoming a key point of contact for institutional investors and analysts.
As reported by CNBC-TV18, Sharma has served as Axis Bank's Group Head and Chief Financial Officer since March 2020. Before joining Axis Bank, Sharma spent more than 12 years at Tata Capital, where he held several leadership positions, culminating in his appointment as Group Chief Financial Officer from 2014. He began his career with Citibank N.A., where he held roles spanning treasury operations, structured cash solutions and risk monitoring, and also worked as a consultant at Boston Consulting Group. Axis Bank placed on record its appreciation for Sharma's contribution and wished him success in his future endeavours. Sharma is a Chartered Accountant and Cost Accountant, holds a Bachelor of Commerce degree from the University of Mumbai, and is an alumnus of the Indian School of Business, Hyderabad. According to The Hindu BusinessLine, Sharma brings over 26 years of experience across banking, financial services and strategy, and will join the bank's Senior Management Personnel from his respective joining date.
HDFC Bank's board also approved Jigar Shah's appointment as General Counsel-Designate effective August 20, 2026, moving to General Counsel from October 1, 2026. As per The Hindu BusinessLine, Shah brings over three decades of experience in legal, compliance and regulatory roles, including stints at KKR India, JPMorgan Chase and Deutsche Bank. He holds an LLB from the University of Leicester and is a qualified Solicitor in England and Wales. Both Sharma and Shah will join the bank's Senior Management Personnel from their respective dates of joining.
