HDFC Bank poaches Axis Bank's Sharma as CFO, starting Dec 1

HDFC Bank on Monday named Puneet Sharma chief financial officer, effective December 1. Sharma resigned from Axis Bank on Sunday after more than six years as its CFO. He will join HDFC as CFO-designate from September 1.

Sharma oversaw finance, legal and investor relations at Axis Bank. He will remain there through August 31. Before Axis, he was with Tata Capital.

The move reshapes finance leadership at two of India's largest private banks. Sharma's departure leaves Axis searching for a new CFO. The search comes as Bandhan Bank also recently said its CFO resigned, signaling a broader churn in banking finance roles.

For HDFC Bank, Sharma brings experience from a direct competitor. He managed Axis's financial controls, regulatory reporting and capital planning. That background may prove useful as HDFC continues post-merger integration with HDFC Ltd. and navigates growth targets.

HDFC Bank's Alpha Score is 46, rated Mixed, reflecting some caution on its near-term risk-return profile. The bank's finance function will play a key role in managing cost discipline and capital allocation.

Sharma starts as CFO-designate on September 1 and takes the full role on December 1.