HDFC Bank's senior management team has reshuffled its portfolios. This is the first major rejig after the amalgamation of HDFC Ltd on 1 July.
The internal memo, which has been review by Business Standard, said: ''S portfolio of retail products and leveraging the vast distribution that has been created,'' according to an internal memo.
Arvind Vohra, the group head of retail branch banking, will now be the group head of retail assets.
The Bank said Bhat's main task would be to create a 'bank within a bank' and improve the ability to provide relationship management services to the growing number of our customer franchises.
Bhagat, Kumar, and Bhat will report to Ashish Parthasarathy, who is the treasurer of the Bank, in their new roles.
Arup Rakshit, the group's head, will now be responsible for the treasury function and continue to report to Parthasarathy.
Parag Rao, the group's chief executive, is now responsible for marketing, liability product group, third-party products, and non-resident products.
The bank said Payzapp, Vyaapar, Smartbuy, and other consumer-facing digital products would be run as direct-to-consumer digital companies with their own separate profit & loss account, and would be headed by Ravi Santhanam.
As Chief Marketing Officer, Santhanam will continue to lead digital sales of retail products.
Anjani Rathor, the group's head, will be the chief digital experience officer of the bank.
The chairman of HDFC said that Rakesh Singh, who heads investment and private banking as group head, would spearhead the creation of banking as a service concept.