HDFC Bank appoints Ramesh Lakshminarayanan as CIO

Private sector lender HDFC Bank has appointed Ramesh Lakshminarayanan as its new group head for information technology.

Designated as the CIO, Lakshminarayanan will be responsible for the bank’s technological transformation, a statement said. He is expected to focus on technology strategy, strengthening foundational technology, improving digital capabilities and harnessing new age artificial intelligence/machine learning technology solutions for the bank. 

He reportedly takes over the position from Munish Mittal, who quit the bank in July.

“I am taking a fresh guard to start a new innings with India’s leading private sector bank... At HDFC Bank, the endeavour to enhance products and services for customers is a continuous process. I hope to utilise my experience and understanding of technology, new digital platforms, data and analytics to ensure that the bank maintains its pole position in leveraging technology,” Lakshminarayanan said.

He joins the bank from CRISIL, where he spent three years as chief technology and information officer. He was responsible for the transformation of CRISIL’s businesses by leveraging technology, data and analytics. 

He also co-founded big data and analytics startup Pragmatix Services, which was acquired by CRISIL in 2017. 

With over 25 years of experience, Lakshminarayanan has held leadership positions with organisations such as Citibank, ABN AMRO Bank and Kotak Mahindra Group. He holds a bachelor’s degree in physics from Mumbai University and an MBA from the University of Pune.

“He (Lakshminarayanan) brings an interesting blend of professional expertise as well as an entrepreneurial acumen, acquired while running a startup. I am confident his impeccable credentials will benefit us immensely in our quest to harness technology to enhance customer experience, acquire efficiencies and move towards the next level of growth,” Bhavesh Zaveri, country head of operations and technology at HDFC Bank, said.