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Foreign, private banks on hiring binge

By Anita Bhoir in Mumbai
June 29, 2004 11:13 IST

With new generation private banks increasing their footprint across the country, it is churn time in the job market.

Senior and middle level bankers are being chased by headhunters to fill in new posts being created by expansion.

The flow of personnel, interestingly, is more from foreign banks to private banks, while there have been cases of job switching within the same segment too. Public sector banks, too, are selectively recruiting people for specialised jobs.

In the private sector, the restructured Centurion Bank and the newly created Yes Bank are on a massive recruitment drive.

Anil Jaggia, formerly with Citibank in Chicago, joined Centurion Bank as chief operating officer. Tarini Vaidya joined Centurion as head of treasury from HSBC Software Development India Pvt Ltd. Shalaka Ghadekar, former IDBI Bank head of human resource, has also joined Centurion.

YES Bank, which plans to start operations in the fourth quarter of the current fiscal, is also swooping on other private banks for talent.

H Srikrishnan, former group head-retail operations and transactional banking group, HDFC Bank, joined Yes Bank as executive director, Ajay Mahajan (former Bank of America employee) was appointed as head-financial market and Animesh Kumar (former Standard Chartered employee) joined the bank as head-human resource.

B Chandramouli and P Kumar, former HDFC Bank employees, also joined Yes Bank as chief operating officer and head of business services, respectively.

HDFC Bank recently appointed A Rajan, managing director of Flexcel, as its country head-retail operations.

IDBI Bank in the past two months has recruited junior, middle level personnel from various private and foreign sector banks.

Over half-a-dozen middle-level employees at IDBI Bank put in their papers in May and most of them were picked up by leading foreign banks. Shameek Bhargava, head-alternative channels and cards products, IDBI Bank, is also in the process of leaving the bank.

Rajeev Oberio, chief of compliance in Standard Chartered Bank, recently took charge as the chief compliance officer at Citibank.

Anita Bhoir in Mumbai