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Puri is expected to sharpen Carlyle’s focus on the financial services space in Asia.
Puri is expected to sharpen Carlyle’s focus on the financial services space in Asia.

Aditya Puri joins Carlyle as adviser

  • Puri will help identify investment opportunities for the global private equity firm across Asia

Veteran banker Aditya Puri has joined Carlyle Group as a senior adviser where he will help identify investment opportunities for the global private equity (PE) firm across Asia, following a 26-year stint at HDFC Bank Ltd where he shaped its destiny as India’s top private lender.

Puri, who retired as chief executive of HDFC Bank on 26 October, will also provide guidance on the evolving market landscape and new investment opportunities, and advise its investment professionals and portfolio management teams on building differentiated high-quality businesses, a Carlyle group statement said.

“Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth," Puri said in the statement.

Puri is expected to sharpen Carlyle’s focus on the financial services space in Asia. The PE firm already has made several investments in this sector in India, including in marquee names like SBI Cards and Payment Services Ltd, SBI Life Insurance Co. Ltd, Housing Development Finance Corp. Ltd, PNB Housing Finance, Repco Home Finance, Edelweiss, and IIFL Finance Ltd.

Analysts said Puri’s appointment demonstrates the growing interest of global funds in India’s financial services space, which is witnessing a digital transformation amid covid.

Puri was CEO of Citibank’s Malaysia operations when he was chosen to lead HDFC Bank in 1994. By then, he had spent 20 years with Citibank, overseeing parts of its activities across India, Greece, Saudi Arabia, Hong Kong, Korea, Taiwan and mainland China. Across 26 years, Puri grew HDFC Bank into India’s largest private bank by assets and market value.

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