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finance | IST

HDFC Bank’s Wholesale Credit Risk Head likely to join Bank of Baroda

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Public sector banks are looking to strengthen their risk management functions and make lateral hires, especially with the government also nudging them in this direction. CNBC-TV18 has learnt that the Head of HDFC Bank’s Wholesale Credit Risk is set to join Bank of Baroda (BoB) as its new Chief Risk Officer (CRO).

Public sector banks are looking to strengthen their risk management functions and make lateral hires, especially with the government nudging them in this direction.
CNBC-TV18 has learned that the Head of HDFC Bank’s Wholesale Credit Risk is set to join Bank of Baroda (BoB) as its new Chief Risk Officer (CRO).
Anantharaman S, Joint Head-Wholesale Credit Risk at HDFC Bank will join as BoB on a contractual basis. He has been with HDFC Bank since April last year after a two-year stint at L&T Finance as its Group CRO, prior to which he was at HDFC Bank between 2006 and 2017.
This is a very positive development from the BoB’s point of view because risk management is a very important area for banks, especially given the current environment.
In 2019, the government had allowed public sector bank boards to appoint CROs from the market and pay them market-linked compensation to be able to attract good talent.
Not just BoB but others like State Bank of India (SBI) and Punjab National Bank (PNB) are also making lateral hires to strengthen their management functions.
Watch the accompanying video of CNBC-TV18’s Ritu Singh for more details.