Sources indicate that Sharma is anticipated to replace current Chief Financial Officer Srinivasan Vaidyanathan once his term concludes in October. Additionally, CNBC-TV18 has learned that HDFC Bank’s Nomination and Remuneration Committee is set to convene on Monday, where Sharma’s appointment is likely to be a topic of discussion.
This announcement coincides with Axis Bank’s declaration of Sharma’s resignation. In his resignation letter, Sharma mentioned that the choice was made after “careful thought and reflection,” emphasizing his desire to embark on the “next phase” of his professional journey.
Axis Bank confirmed the acceptance of Sharma’s resignation, noting that his final working day will be August 31, 2026, though the bank has yet to announce his successor.
If appointed, Sharma would assume control of the finance function at HDFC Bank during a period when the bank is gearing up for a planned leadership transition. This development follows the recent exit of Bhavin Lakhpatwala, who was viewed by many market participants as a potential internal successor to Vaidyanathan before transferring to RBL Bank as Executive Director and Chief Financial Officer. CNBC-TV18 first reported on Bhavin Lakhpatwala’s move to RBL Bank earlier this month.
Since March 2020, Sharma has been serving as Axis Bank’s Group Head and Chief Financial Officer. In addition to leading the finance function, he is responsible for legal, secretarial, investor relations, and procurement. Furthermore, he acts as a nominee director on the boards of Axis Finance and Axis Securities.
Throughout his six-year tenure as CFO, Axis Bank successfully acquired and integrated Citibank India’s consumer businesses, enhanced its capital standing through effective fund raises, and ramped up investments in technology and digital banking.
Sharma has also played a significant role in engaging with investors and analysts during a period marked by notable balance sheet growth and strategic execution.
Prior to his tenure at Axis Bank, Sharma spent over 12 years with Tata Capital, where he held various leadership roles, culminating in his position as Group Chief Financial Officer. In that capacity, he was responsible for finance, treasury, taxation, investor relations, and corporate strategy across the Tata Group’s financial services portfolio.
Earlier in his career, Sharma worked at Citibank and Boston Consulting Group, gaining extensive experience in corporate banking, strategy, and financial services. He began his career with Lovelock & Lewes, the predecessor to PwC in India. Sharma is a Chartered Accountant and also holds a Cost Accountant designation.
Puneet Sharma did not provide any comments regarding CNBC-TV18’s report. Responses from both HDFC Bank and Axis Bank were still pending at the time this story was published.
