70% HDFC top executives will not join the merger.

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According to a report by the Times of India, most members of the executive management at the former HDFC, will not be joining the combined entity, HDFC Bank. This is due to regulatory restrictions that prohibit banks from employing superannuated executives. This will result in seamless integration.

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Out of the top 20 executives only three will be joining the combined entity. Among them, V. Srinivasa Rangan will serve as the bank’s executive director. Additionally, Sudhir Jha, the former chief legal officer, and Ajay Agarwal, the former company secretary will also be part of the bank’s senior management, as reported.

In another recent development, Deepak Parekh, the longstanding Chairman of HDFC Ltd, announced his retirement on July 1. Furthermore, CEO Keki Mistry and MD Renu Karnad will step down from their executive positions, signifying a notable reshuffling within the organization.

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Due to the merger, these changes in senior management are expected to streamline operations and facilitate a more efficient transition. With a focus on seamless integration and effective leadership, both entities are poised to navigate this trans formative period successfully.

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